Notes to SEFA
Accounting Policies: Basis of Presentation: The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal awards activity of the City under the programs of the federal government for the for the year ended September 30, 2022. The information in the Schedule is presented in accordance with the requirements of Title 2 U. S. Code of Federal Regulations Part 200. Uniform Administration Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operation of the City of Vicksburg, Mississippi. Summary of Significant Accounting Policies: Expenditures reported on the Schedule are reported on the same basis of accounting. Such expenditure 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 represent adjustments or credits made in the normal course of business to amount reports as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.