Notes to SEFA
Accounting Policies: Expenditures reported on the Schedule are reported on the modified-accrual basis of accounting for governmental funds and the accrual basis for proprietary funds, which is described in Note 1 of the notes to the City’s financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance for all awards.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.