Notes to SEFA
Title: GENERAL
Accounting Policies: The Schedule is presented using the modified accrual basis of accounting, which is described in Note 1 to the Citys basic financial statements for the fiscal year ended September 30, 2022. 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: The auditee did not use the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of all federal awards of the City of Bonita Springs, Florida (the City) 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 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 City, the schedule is not intended to and does not present the financial position, changes in net position, or cash flows of the City. The Citys reporting entity is defined in Note 1 to the Citys basic financial statements for the fiscal year ended September 30, 2022. All federal award programs received directly from federal agencies, as well as federal award programs passed through other government agencies, are included in the schedule.
Title: CONTINGENCIES
Accounting Policies: The Schedule is presented using the modified accrual basis of accounting, which is described in Note 1 to the Citys basic financial statements for the fiscal year ended September 30, 2022. 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: The auditee did not use the de minimis cost rate.
Grant monies received by the City are for specific purposes and are subject to review by the grantor agencies. Such audits may result in requests for reimbursement due to disallowed expenditures. Based upon prior experience, the City does not believe that such disallowances, if any, would have a material effect on the financial position of the City. As of September 30, 2022, there were no material questioned or disallowed costs as a result of grant audits in process or completed of which management was aware. Any adjustments to grant funding are recorded in the year the adjustment occurs.
Title: SUBRECIPIENTS
Accounting Policies: The Schedule is presented using the modified accrual basis of accounting, which is described in Note 1 to the Citys basic financial statements for the fiscal year ended September 30, 2022. 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: The auditee did not use the de minimis cost rate.
Of the federal awards presented in the Schedule, the City provided no funding to subrecipients.
Title: MAJOR FEDERAL PROGRAM DETERMINATION
Accounting Policies: The Schedule is presented using the modified accrual basis of accounting, which is described in Note 1 to the Citys basic financial statements for the fiscal year ended September 30, 2022. 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: The auditee did not use the de minimis cost rate.
Major federal program determination has been completed in accordance with the Uniform Guidance.