Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards is presented using the modified cash basis of accounting, which is described in Note 1 to the District's financial statements.
Federal awards received are reflected in the District's financial statements within the Educational Account and Operations and Maintenance Account of the District's General Fund, the Transportation Fund, and the Municipal Retirement/Social Security Fund as receipts from federal sources. Amounts reported in the accompanying Schedule of Expenditures of Federal Awards were prepared using amounts reported in the Program Financial Reports for programs for which the District has filed reports as of June 30, 2025, with the Illinois State Board of Education and other grantor agencies.
Of the federal expenditures presented in the schedule, the District did not provide any federal awards to subrecipients. The District did not have any federal insurance in effect during the year and did not have any federal loans or loan guarantees outstanding at year end.
The District did not elect to use the 10% de minimis cost rate as covered in Uniform Guidance §200.414 Indirect Facilities and Administration Costs.
During the fiscal year ended June 30, 2025, the District repaid $5,036 to the Illinois State Board of Education related to ineligible IDEA – Flow Through expenditures from a prior year.