Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal and State Awards (SEFSA) includes the federal and state grant activity of the City of Havelockunder the programs of the federal government and the State of North Carolina for the year ended June 30, 2022. The information in this SEFSA ispresented in accordance with the requirements of Title 2 U.S.C ode of Federal Regulation Part 200, Uniform Administrative Requirements, CostPrinciples, and Audited Requirements for Federal Awards and the State Single Audit Implementation Act. Because the SEFSA presents only aselected portion of the operations of the City of Havelock, it is not intended to and does not present the financial position, changes in net position orcash flows of the City of Havelock.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10% de minimums indirect cost rate as allowed under Uniform Guidance.