Notes to SEFA
Expenditures on the Schedule are reported on the modified cash basis of accounting which is a basis of accounting other than generally accepted accounting principles (GAAP). 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. The Village did not elect to include the 10% de minimis indirect cost rate allowed under the Uniform Guidance
Expenditures on the Schedule are reported on the modified cash basis of accounting which is a basis of accounting other than generally accepted accounting principles (GAAP). 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. The Village did not elect to include the 10% de minimis indirect cost rate allowed under the Uniform Guidance
The Village received no federal non-cash assistance during the year ended April 30, 2025. The Village had no sub-recipients during the year ended April 30, 2025