Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of AllianceChicago (the Alliance) under programs of the federal government for the year ended June 30, 2025. The information in the Schedule 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 (the Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Alliance, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Alliance.
Expenditures reported in the Schedule 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 expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
None of the federal awards were expended in the form of noncash assistance, federal insurance, loans, or loan guarantees as of and for the year ended June 30, 2025.
The Alliance elected to use the de minimis indirect cost rate under the Uniform Guidance, applying a 10% rate through September 30, 2024, and a 15% rate for expenditures incurred on or after October 1, 2024.