Notes to SEFA
Title: Note 1. Basis of Presentation
Accounting Policies: Revenue from federal awards is recognized when the City has done everything necessary to establish itsright to revenue. For governmental funds, revenue from federal grants is recognized when it becomes bothmeasurable and available. Expenditures of federal awards are recognized in the accounting period whenthe liability is incurred. The City has elected to not use the 10 percent de minimis indirect cost rate asallowed under the Uniform Guidance.Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expendituresare recognized following the cost principles contained in the Uniform Guidance for all awards. Under theseprinciples, certain types of expenditures are not allowable or are limited 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 includes the federal grant activity of theCity of Boulder, Colorado for the year ended December 31, 2022. All federal financial assistance receiveddirectly from federal agencies, as well as federal financial assistance passed through other governmentalagencies, is included in the schedule. The information in this schedule is presented in accordance withrequirements of the Code of Federal Regulations, 2 CFR Part 200, Uniform Administrative Requirements,Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, someamounts presented in this schedule may differ from amounts presented in, or used in the presentation of,the basic financial statements.
Title: Note 3. Expenditures Incurred in Prior Years
Accounting Policies: Revenue from federal awards is recognized when the City has done everything necessary to establish itsright to revenue. For governmental funds, revenue from federal grants is recognized when it becomes bothmeasurable and available. Expenditures of federal awards are recognized in the accounting period whenthe liability is incurred. The City has elected to not use the 10 percent de minimis indirect cost rate asallowed under the Uniform Guidance.Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expendituresare recognized following the cost principles contained in the Uniform Guidance for all awards. Under theseprinciples, certain types of expenditures are not allowable or are limited to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
PW0127 were COVID-19 expenditures incurred in 2021. These expenditures were not obligated under theDisaster Grants-Public Assistance, Federal Assistance Listing #97.036 until FY 2022. As such theexpenditures of $93,009 were incurred in the prior year and this amount was added to current year expensesreported for this program.
Title: Note 4. Pass Through Entity Identifying Numbers
Accounting Policies: Revenue from federal awards is recognized when the City has done everything necessary to establish itsright to revenue. For governmental funds, revenue from federal grants is recognized when it becomes bothmeasurable and available. Expenditures of federal awards are recognized in the accounting period whenthe liability is incurred. The City has elected to not use the 10 percent de minimis indirect cost rate asallowed under the Uniform Guidance.Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expendituresare recognized following the cost principles contained in the Uniform Guidance for all awards. Under theseprinciples, certain types of expenditures are not allowable or are limited to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The pass thru award numbers for the Disaster Grants Public Assistance program were PW0025,PW0026, PW0047, PW0052, PW0053, PW0092 and PW0127.