Notes to SEFA
Title: NOTE 4. OTHER INFORMATION
Accounting Policies: BASIS OF PRESENTATION: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Community Consolidated School District No. 146 (District) and is presented on the modified accrual 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 auditee did not use the de minimis cost rate.
Insurance coverage in effect paid with federal funds during the fiscal year amounted to zero. Loans/loan guarantees outstanding at June 30, 2022 amounted to zero. The District had no federal grants requiring matching expenditures during the year ended June 30, 2022.
Title: NOTE 3. NONCASH ASSISTANCE
Accounting Policies: BASIS OF PRESENTATION: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Community Consolidated School District No. 146 (District) and is presented on the modified accrual 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 auditee did not use the de minimis cost rate.
Noncash assistance expended by the District amounted to $36,422 for commodities passed through the Illinois State Board of Education.