Notes to SEFA
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity, on the regulatory basis of accounting, of Arthur Community Unit School District No. 305 (the District) under programs of the federal government for the year ended June 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 operations of the District, it is not intended to and does not present the financial position or changes in net position of the District.
Nonmonetary assistance is reported in the Schedule at the fair value of the nonmonetary assistance received and disbursed. The District received nonmonetary assistance under Assistance Listing number 10.555 as noted in the accompanying schedule of expenditures of federal awards.