Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of Back of the Yards Neighborhood Council (the “Council”) under programs of the federal government for the year ended December 31, 2025. The information in the 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 (the “Uniform Guidance”). Because the Schedule presents only a selected portion of the operations of the Council, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Council. During 2025, the Council expended federal awards passed through the City of Chicago Department of Family and Support Services and the Illinois Criminal Justice Information Authority under the U.S. Department of the Treasury Coronavirus State and Local Fiscal Recovery Funds program (Assistance Listing Number 21.027), and federal awards passed through Local Initiatives Support Corporation under the U.S. Department of Housing and Urban Development Section 4 Capacity Building for Community Development and Affordable Housing program (Assistance Listing Number 14.252).
Expenditures reported on the Schedule are reported on the accrual 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. Negative amounts shown on the Schedule, if any, represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented when provided by the pass-through entity.
The Council did not elect to use the de minimis indirect cost rate permitted under the Uniform Guidance for the year ended December 31, 2025. The Council does not have a federally negotiated indirect cost rate.
The Council did not provide federal awards to subrecipients during the year ended December 31, 2025.
The Council did not receive or administer any of the following federal assistance types during the year ended December 31, 2025: See the Notes to the SEFA for chart/table.