Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal award programs of South Central Illinois Mass Transit District. The District’s reporting entity is defined in Note 1 to the District’s financial statements. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the financial statements. Federal awards passed through other government agencies are included on the schedule. Federal programs in titles are reported as presented in the Federal Assistance Catalog, whenever possible. South Central Illinois Mass Transit District elected to not use the 10% de minimis cost rate as covered in § 200.414 indirect (F&A) costs because all of the District’s costs are direct costs. Basis of Accounting: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting, which is described in Note 1 to the District’s financial statements. Relationship to Basic Financial Statements: Federal awards received are reflected in the District’s financial statements within the statement of Revenues and Expenses as receipts from federal sources. Relationship to Program Financial Reports: Amounts reported in the accompanying Schedule of Expenditures of Federal Awards agree with amounts reported in the Program Financial Reports for programs which have filed final reports as of June 30, 2025 with the Illinois Department of Transportation.
South Central Illinois Mass Transit District received the following federal non-cash assistance during the year ended June 30, 2025 and is reported at the fair market value as confirmed by the grantor agencies: FAL # 20.509 Program 5311 $ 524,466 FAL # 20.526 Program 5339 $ 959,830
The District had no federal loans outstanding as of June 30, 2025.
Significant losses are covered by commercial insurance for all major programs: property, liability, and workers compensation. During the year ended June 30, 2025, there were no significant reductions in coverage. Also, there have been no settlement amounts, which have exceeded insurance coverage in the past three years.