Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Community High School District 218 (the District) under programs of the federal government for the year ended June 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 District, it is not intended to and does not present the financial position, changes in net position or cash flows of the District.
Expenditures reported on the Schedule have been prepared using the modified accrual basis of accounting which is the same basis used in preparing the basic financial statements of the District. 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. No funds were identified as having been provided to subrecipients by the District under the meaning of the Uniform Guidance, and accordingly, no funds identified in the Schedule are attributable to subrecipient entities as required under the Uniform Guidance. There were no federal awards expended for insurance or any loans or loan guarantees outstanding for the year ended June 30, 2024. For the year ended June 30, 2024, the District received $109,466 of noncash assistance in the form of food commodities that is included under the Department of Agriculture passed through the Illinois State Board of Education (ALN #10.555). For the year ended June 30, 2024, the District received $71,728 of noncash assistance in the form of food commodities that is also included under the Department of Agriculture passed through the Illinois State Board of Education (ALN #10.555).
The District has elected not to use the de minimis indirect cost rate as allowed under the Uniform Guidance.
Subsequent to the issuance of the District's original SEFA for the year ended June 30, 2024, the District identified errors in the presentation of the schedule. The SEFA excluded expenditures for federal programs incurred during fiscal year 2024 that were later internally determined to be allowable. The effects of the restatement on federal expenditures reported in the accompanying schedule are summarized as follows: The total fiscal year 2024 expenditures of federal awards increased by $2,592,649, from $9,250,245 to $11,842,894.