Notes to SEFA
Title: Non-cash Assistance
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Polo Community Unit School District and is presented on the cash basis method of accounting. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budget Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the Basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The following amounts were expended in the form of non-cash assistance by Polo Community Unit School District and should be included in the Schedule of Expenditures of Federal Awards:NON-CASH COMMODITIES (CFDA 10.555)**:$13,218 OTHER NON-CASH ASSISTANCE - DEPT. OF DEFENSE FRUITS & VEGETABLES$11,354 Total Non-Cash$24,572
Title: Subrecipients
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Polo Community Unit School District and is presented on the cash basis method of accounting. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budget Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the Basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Of the federal expenditures presented in the schedule, Polo Community Unit School District provided federal awards to subrecipients as follows:N/A
Title: Other Information
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Polo Community Unit School District and is presented on the cash basis method of accounting. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budget Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the Basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Insurance coverage in effect paid with Federal funds during the fiscal year:Property N/AAuto N/AGeneral Liability N/AWorkers Compensation N/ALoans/Loan Guarantees Outstanding at June 30: N/ADistrict had Federal grants requiring matching expendituresN/A