Notes to SEFA
Accounting Policies: BASIS OF PRESENTATION AND ACCOUNTINGThe accompanying Schedule of Expenditures of Federal Awards is presented using the modified accrualbasis of accounting. Under the modified accrual basis of accounting, expenditures are recognized when therelated liability is incurred.In instances where the grant agreement requires the City to match grant awards with local funds, suchmatching funds are excluded in the accompanying Schedule of Expenditures of Federal Awards.The City did not utilize the 10% de minimus indirect cost rate.Federal grant programs which are administered through State agencies (pass-through awards) have beenincluded in this report. These programs are operated according to Federal regulations promulgated by theFederal agency providing the funding.The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code ofFederal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards. Therefore, some amounts presented in this schedule may differ fromamounts presented in, or used in the preparation of the financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.