Notes to SEFA
The accompanying schedule of expenditures of federal awards (SEFA) includes the federal grant activity of the Lincoln Trail Area Development 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 2CFR Part 200 Uniform Administrative Requirements, Cost Principals, and Audit Requirements for Federal Awards, Subpart F - Audit Requirments. Therefore some amounts presentaed in this scheudle may differ from amounts in or used in the preparation of the financial statements.
Expenditures reported on the SEFA 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 ependitures are not allowable or are limited as to reimbursement.
Lincoln Trail Area Development District has elected not to use the 10% de minimis indirect cost rate as allowed un the Uniform Guidance.
The District was awarded a CARES Act Revolving Loan Fund grant. The grant was awarded on July 24, 2020 for $550,000 to be used for loans and $50,000 for administrative services. From July 1, 2024 through June 30, 2025, LTADD had no approved loans. Loan values, RLF CARES Act cash balance, current year administrative expenses and loans written off, in lieu of expenditures, are used in determining major program status, and are as follows: See audit report for chart
The District is registered in Dun & Bradstreet's Data Univeral Numbering System database under the name Lincoln Trail Area Development District. The DUNS number assinged to our organization is 07-102-3208
See audit report for chart
Of the federal expenditures presented in the schedule, Lincoln Trail Area Development District provided federal awards to the following sub-recipients: See audit report for chart