Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported in the schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in 0MB Circular A-87, Cost
Principles for State, Local and Indian Tribal Governments, or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The
City of Marion has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: City of Marion has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (schedule) includes the federal award
activity of the City of Marion under programs of the federal government for the year ended June 30, 2023.
The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of
Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (uniform Guidance). Because the schedule presents only a selected
portion of the operations of the City of Marion, it is not intended to and does not present the financial
position, changes in financial position or cash flows of the City of Marion.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported in the schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in 0MB Circular A-87, Cost
Principles for State, Local and Indian Tribal Governments, or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The
City of Marion has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: City of Marion has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Expenditures reported in the schedule are reported on the modified accrual basis of accounting. Such
expenditures are recognized following, as applicable, either the cost principles in 0MB Circular A-87, Cost
Principles for State, Local and Indian Tribal Governments, or the cost principles contained in the Uniform
Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The
City of Marion has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform
Guidance.
Title: Indirect Cost Rate
Accounting Policies: Expenditures reported in the schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in 0MB Circular A-87, Cost
Principles for State, Local and Indian Tribal Governments, or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The
City of Marion has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: City of Marion has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The City of Marion has elected not to use the 10% de minimis indirect cost rate as allowed under the
Uniform Guidance.