Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards 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. Certain amounts shown on the schedule of expenditures of federal awards represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. The City has elected not to use the 10- percent de minimis indirect cost rate as allowed under the Uniform Guidance.
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 and state financial assistance include the award activity of the City underprograms of the federal government, for the year ended June 30, 2022. The information in this Schedule is presented in accordance with therequirements of Title 2 U.S.Code of Federal Regualations Part 200, Uniform Adminstrative Requirements, Cost Principles, and Auditrequirements for Federal Awards (Uniform Guidance). Because the schedule of expenditures of federal awards present only a selected portionof the operations of the City, they are not intended to and do not present the financial position, statement of activities, or cash flows of the City