Notes to SEFA
General: The accompanying schedul of Expenditures of Federal Awards presents the acitivity of all federal award programs of the City of Marengo,Illinois ("City"). The City's reporting entity is defined in Note 1 to the City's financial statements
Basis of Presentation: The accompanying Schedule of Expenditures of Federal Awards 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).
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 City's financial statements. Expenditures are recognized following the cost principles contained in the Uniform Guidance.
Non-cash and Federal Insurance: The City did not receive non-cash assistance or have Federal Insurance in effect during the fiscal year
Indirect Costs: The City has not elected to use the 10% de minimus indirect costs rate as allowed under the Uniform Guidance.