Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: There are no grants that require the de minimis cost rate.
The accompanying schedule of expenditures of federal awards includes the federal award grant activity of the City of Palos Hills, Illinois (City) under programs of the federal government for the year ended April 30,
2023. 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 differ from amounts presented in, or used in the preparation of, the basic financial statements.
Title: Indirect Cost Rate
Accounting Policies: Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: There are no grants that require the de minimis cost rate.
The City has elected not to use the 10-percent de minimis cost rate allowed under the Uniform Guidance.
Title: Loans or Loan Gurantees
Accounting Policies: Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: There are no grants that require the de minimis cost rate.
During the year ended April 30, 2023, the City received no loans, loan guarantees or other federal assistance for the purpose of administering federal programs.
Title: Subrecipients
Accounting Policies: Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: There are no grants that require the de minimis cost rate.
The City provided no federal awards to subrecipients during the year ended April 30, 2023.