Notes to SEFA
The accompanying schedule of expenditures of federal awards is presented using the accrual basis of accounting, whereby revenues are recognized when earned and expenses are recorded as liabilities when incurred. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass through entity numbers are presented where available.
Goodwill Industries of Northern Illinois and Wisconsin Stateline Area, Inc. and Affiliate did not receive any federal non-cash assistance, federal loans or federal insurance for the year ended December 31, 2025.