Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Village of South Holland, Illinois (the Village) under programs of the federal government for the year ended April 30, 2025. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the Village, it is not intended and does not present the financial position, changes in net position, or cash flows of the Village.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. No funds were identified as having been provided to subrecipients by the Village under the meaning of the Uniform Guidance, and accordingly, no funds identified in the Schedule are attributable to subrecipient entities as required under the Uniform Guidance. There were no federal awards expended for insurance or any loans or loan guarantees outstanding at April 30, 2025. For the year ended April 30, 2025, the Village did not receive any noncash assistance.
The Village has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.