Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal
award activity of Petersburg Borough, Alaska (the Borough) excluding its component units,
Petersburg School District and Petersburg Medical Center, under programs of the federal
government for the year ended June 30, 2023. The information in the 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). Because the Schedule presents only a selected portion of the operations of the
Borough, it is not intended to and does not present the financial position, changes in net position,
or cash flows of the Borough. 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.
Negative amounts shown on the Schedule, if any, represent adjustments or credits made in the
normal course of business to amounts reported as expenditures in prior years. Pass-through entity
identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Borough has not elected to use the 10-percent de minimis indirect cost rate allowed under the
Uniform Guidance.