Notes to SEFA
Accounting Policies: Funds received under the various grant programs have been recorded within the general, special revenue, and capital projects funds of the City. The City utilizes the modified accrual basis of accounting for the general, special revenue, and capital projects funds. Expenditures of federal awards reported on the Schedule of Expenditures of Federal Awards (Schedule) are recognized when incurred.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.