Notes to SEFA
All Federal Programs: Federal awards received are reflected in the District’s financial statements in the Education Fund as revenue from federal sources. Federal expenditures are also recorded in this fund. Non-cash Awards: Beardstown Community Unit School District No. 15 received a non-cash federal award in the amount of $79,296 from U.S. Department of Agriculture Food Commodities Program, CFDA #10.555 and a non-cash federal award in the amount of $18,977 from the U.S. Department of Defense Fresh Fruits and Vegetables Program, CFDA #10.555 during the year ended June 30, 2024.
The District receives awards under various federal grant programs which must be expended according to provisions established by the various grants. Compliance with the grant provisions are subject to audit by the various granting agencies which may impose sanctions in the event of non-compliance. Management believes they have complied with all aspects of the grant provisions and they feel the results of any adjustments would have an immaterial impact on the financial statements taken as a whole.
As of June 30, 2025, there was no federal insurance in effect and no loans or loan guarantees outstanding.