Notes to SEFA
Title: NONCASH ASSISTANCE
Accounting Policies: BASIS OF PRESENTATION - The accompanying schedule of expenditures of federal awards includes the federal grant activity of Bensenville Elementary School District No. 2 (District) and is presented on the modified cash basis of accounting. 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). 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 District has elected to use the 16.36% indirect cost rate assigned by the Illinois State Board of Education.
Noncash assistance expended by the District was $75,253 for commodities passed through the Illinois State Board of Education and $21,638 for commodities passed through the Department of Defense.
Title: OTHER INFORMATION
Accounting Policies: BASIS OF PRESENTATION - The accompanying schedule of expenditures of federal awards includes the federal grant activity of Bensenville Elementary School District No. 2 (District) and is presented on the modified cash basis of accounting. 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). 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 District has elected to use the 16.36% indirect cost rate assigned by the Illinois State Board of Education.
There was no insurance coverage in effect paid with federal funds during the fiscal year.There were no loans/loan guarantees outstanding at June 30, 2022.The District had federal grants requiring matching expenditures during the year ended June 30, 2022 of 20% for the Fund for the Improvement of Education program and 7.3% for the School Climate Transformation program.