Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the City of Highland Park (the City) under programs of the federal government for the year ended December 31, 2025. The information in this 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 (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the City, it is not intended to and does not present the financial position, changes in net position or cash flows of the City. The reporting entity for the City is based upon criteria established by the Governmental Accounting Standards Board. The City is the primary government according to GASB criteria, while the Highland Park Housing Association is a component unit. Federal awards received directly by the Highland Park Housing Association are not included in this report since the Highland Park Housing Association has been audited by other auditors for their grants and those amounts are reported in a separate report.
The City of Highland Park participates as a subrecipient of federal awards from the Illinois Environmental Protection Agency (IEPA) under the Drinking Water State Revolving Fund program (ALN #66.468). Expenditures incurred for this program and reimbursed with federal funds from the IEPA are included in the federal expenditures presented in the Schedule. The balance of loans outstanding at December 31, 2025, both federal and non-federal portions, is $4,408,599.