Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Bellwood-Antis School District under programs of the federal government for the year ended June 30, 2025. The information in the 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 operations of the Bellwood-Antis School District, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Bellwood-Antis School District.
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. The Bellwood-Antis School District has elected to not use the 15 percent de minimis indirect cost rate allowed under the Uniform Guidance.
USDA Donated Commodities are valued at market value, which represents the costs to replace those commodities