Notes to SEFA
Title: Reporting Entity
Accounting Policies: The Schedule of Expenditures of Federal Awards has been prepared in accordance with generally accepted accounting principles on the accrual basis of accounting as prescribed in prounouncements issued by the Governmental Accounting Standards Board.
De Minimis Rate Used: N
Rate Explanation: NA
reporting entity for the City of O’Fallon is based upon the criteria established by the Governmental Accounting Standards Board.
Title: Basis of Presentation
Accounting Policies: The Schedule of Expenditures of Federal Awards has been prepared in accordance with generally accepted accounting principles on the accrual basis of accounting as prescribed in prounouncements issued by the Governmental Accounting Standards Board.
De Minimis Rate Used: N
Rate Explanation: NA
The accompanying schedule of expenditures of federal awards (the “schedule”) includes the federal grant activity of the City of O’Fallon, Illinois under programs of the federal government for the year ended April 30, 2023. The information in this schedule is presented in accordance with the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of the City, it is not intended to and does not present the financial position, changes in net position or cash flows of the City. It is a summary of the activity of the City’s federal award programs prepared on the accrual basis of accounting. Accordingly, expenditures are recognized when the liability has been incurred and revenues are recognized when the qualifying expenditure has been incurred.
Title: Description of Major Programs
Accounting Policies: The Schedule of Expenditures of Federal Awards has been prepared in accordance with generally accepted accounting principles on the accrual basis of accounting as prescribed in prounouncements issued by the Governmental Accounting Standards Board.
De Minimis Rate Used: N
Rate Explanation: NA
There were two major programs for the year ended April 30, 2023, the Coronavirus State and Local Fiscal Recovery Funds and the Capitalization Grants for Clean Water State Revolving Funds. These grants were awarded by the United States Department of Treasury and the Environmental Protection Agency to the City of O’Fallon, Illinois for the purposes of financial support of the City and local businesses in the area and for wastewater treatment facilities.
Title: Additional Information
Accounting Policies: The Schedule of Expenditures of Federal Awards has been prepared in accordance with generally accepted accounting principles on the accrual basis of accounting as prescribed in prounouncements issued by the Governmental Accounting Standards Board.
De Minimis Rate Used: N
Rate Explanation: NA
As of and during the year ended April 30, 2023, the City did not receive any federal insurance, federal loans or loan guarantees, or federal noncash assistance. In addition, the City did not pass through any federal awards to sub-recipients.