Notes to SEFA
Title: NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Accrual Basis of Accounting
De Minimis Rate Used: Y
Rate Explanation: 10% de minimis cost rate
Expenditures reported on the Schedule are reported on the 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 reimbursemen
Title: NOTE 4 - INDIRECT COST
Accounting Policies: Accrual Basis of Accounting
De Minimis Rate Used: Y
Rate Explanation: 10% de minimis cost rate
For purposes of charging indirect costs to federal awards, the City has elected to use the 10% de minimis cost rate as permitted by CFR Section 200.414 of the Uniform Guidance, though in all federal grants received in the current fiscal year no indirect costs were charged to the grants