Notes to SEFA
Title: Note 4: Non-Cash Assistance
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of MUNDELEIN ELEMENTARY SCHOOLDISTRICT NO. 75 and is presented on the Modified Accrual Basis 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 MUNDELEIN ELEMENTARY SCHOOL DISTRICT NO. 75 and should be included in the Schedule of Expenditures of Federal Awards: NON-CASH COMMODITIES (CFDA 10.555)**: $21,467 OTHER NON-CASH ASSISTANCE - DEPT. OF DEFENSE FRUITS & VEGETABLES $30,430 Total Non-Cash $51,897