Notes to SEFA
Accounting Policies: GENERAL - The accompanying Schedule of Federal Awards presents the activity of all federal awards programs of the Village of Shiloh, Illinois. The Village's reporting entity is defined in Note 1 to the Village's financial statements. Federal awards passed through other government agencies are included on the schedule. BASIS OF ACCOUNTING - The accompanying Schedule of Federal Awards is presented using the modified accrual basis of accounting, which is described in Note 1 to the Village's financial statements. NONCASH ASSISTANCE, FEDERAL INSURANCE AND LOANS/LOAN GUARANTEES - The Village did not receive any noncash assistance, federal guaranteed loans or federal insurance for any of its programs for the year ended April 30, 2023. SUBRECIPIENT MONITORING - The Village did not provide any funds to subrecipients for federal funds.
De Minimis Rate Used: Y
Rate Explanation: The Village elected to use the de minimis indirect cost rate of 10%