Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures reported on the schedule are recognized following the cost principles contained in Subpart E of the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. For purposes of charging indirect costs to federal awards, the City has not elected to use the 10% de minimis cost rate. The City does not pass through federal funds to sub recipients.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
WATER AND WASTE DISPOSAL SYSTEMS FOR RURAL COMMUNITIES (10.760) - Balances outstanding at the end of the audit period were 2008000.
Title: RECONCILIATION OF REVENUES WITH EXPENDITURES FOR FEDERAL FINANCIAL ASSISTAN
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures reported on the schedule are recognized following the cost principles contained in Subpart E of the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. For purposes of charging indirect costs to federal awards, the City has not elected to use the 10% de minimis cost rate. The City does not pass through federal funds to sub recipients.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
See table in Notes to SEFA.