Notes to SEFA
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of the City of Wyoming (the City) under programs of the federal government for the year ended April 30, 2024. 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.
Expenditures reported on the schedule of expenditures of federal awards are reported on the modified cash 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.
The City has elected not to use 10% de minimis cost rate as allowed the Uniform Guidance.
The City did not remit any funds to subrecipients.
The City received funding under the Coronavirus State and Local Fiscal Recovery Funds (SLFRF) program, Assistance Listing 21.027, as a non-entitlement unit (NEU) through the State of Illinois, which served as the pass-through entity. The City’s SLFRF award was designated under the revenue replacement (revenue loss) eligible use category. For purposes of SEFA reporting: Expenditures are recognized when funds are disbursed, consistent with the City’s basis of accounting; the City does not report the total calculated revenue loss as an expenditure; instead, amounts are reported as funds are used for eligible government services; amounts obligated but not yet expended are not included in the SEFA. In accordance with U.S. Treasury guidance, the revenue replacement category does not result in subrecipient relationships, as there is no federal program being carried out.