Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Oak Park School 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 Oak Park School District, it is not intended to and does not present the financial position or changes in net position of Oak Park School District. Management has utilized the NexSys, Cash Management System and the Grant Auditor Report in preparing the Schedule of Expenditures of Federal Awards.
Expenditures reported on the Schedule are reported on the modified 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. Negative amounts (if any) shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available. Oak Park School District has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The District does not pass through federal funds.
Federal expenditures are reported as revenue in the following funds in the financial statements:
Adjustments were made for ALN 10.555 ($164,068) to correct the presentation of receivables on the prior year Schedule of Expenditures of Federal Awards. Adjustments were made for ALN 84.365 ($872) to represent a change in the amount reimbursed for a prior year receivable. Adjustments were made ALN 84.367 ($241) to reclassify expenditures between grant years. Adjustments were made for ALN 84.424 ($1,549) to reclassify expenditures between grant years. Adjustments were made between ALN 17.225 and 17.278 ($28,874) and between ALN 17.277 and 17.285 ($69,706) to correct the presentation between ALNs on the prior year Schedule of Expenditures of Federal Awards.