Notes to SEFA
The City did not have any subrecipients during the year ended April 30, 2025.
The City did not receive any nonmonetary assistance from federal programs during the year ended April 30, 2025.
The City had no federal insurance as it relates to federal programs in effect for the year ended April 30, 2025.
The City had no outstanding loans related to federal programs as of April 30, 2025. While the Illinois Environmental Protection Agency Loan for the Water Treatment Plant is considered a loan with regards to the overall financial position of the City, Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) provides guidance on subrecipient reporting requirements at the City’s level. In determining the amount of federal funds expended to be reported on the SEFA, subrecipients receiving DWSRF loans should include project expenditures incurred under these loans during the audit period as provided in 2 CFR section 200.502(a). These are subawards – not direct federal loans – and, therefore, neither 2 CFR sections 200.502(b) nor (d) apply when calculating the amount of federal funds expended. It also is important to appropriately identify these DWSRF loans as subawards because of the impact on which federal agency is the cognizant or oversight agency. Per these guidelines, the Loan is considered a subaward when reported on the Schedule of Expenditures of Federal Awards.