Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the City of Thornton, Colorado (the City) under programs of the federal government for the year ended December 31, 2022. All federal awards received directly from federal agencies, as well as federal awards passed through other governmental entities, are included in the Schedule. The information in this 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, it is not intended to and does not present the financial position, changes in net position or cash flows of the City. Note 2. Significant Accounting Policies 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 reimbursement. Pass-through identifying numbers are presented where available and grant numbers are provided for direct grants. Negative amounts, if any, shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: Both
Rate Explanation: The City does not have a negotiated indirect cost allocation plan and elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance, with the exception of the Department of Justice Victims of Crimes Act (VOCA) grant, assistance listing number 16.575, for which the 10% deminimis indirect cost rate was elected up to a maximum of $30,000 over the two year grant period ended December 31, 2022