Notes to SEFA
Title: Subrecipients
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the City, and is presented on the modified accrual basis of accounting as described in Note 1 to the basic financial statements for the year ended September 30, 2023.
De Minimis Rate Used: N
Rate Explanation: The City elected not to use the de minimis indirect cost rate as allowed in the Uniform Guidance, section 414.
Of the federal expenditures presented in the schedule, the City provided no federal awards to subrecipients.
Title: Non-Cash Assistance
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the City, and is presented on the modified accrual basis of accounting as described in Note 1 to the basic financial statements for the year ended September 30, 2023.
De Minimis Rate Used: N
Rate Explanation: The City elected not to use the de minimis indirect cost rate as allowed in the Uniform Guidance, section 414.
The City received non-cash assistance from Tarrant County in the form of sidewalk improvements during the fiscal year ended September 30, 2023. The expenditures are listed within the Schedule of Expenditures of Federal Awards under the Community Development Block grant for $169,327.
Title: Loans
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the City, and is presented on the modified accrual basis of accounting as described in Note 1 to the basic financial statements for the year ended September 30, 2023.
De Minimis Rate Used: N
Rate Explanation: The City elected not to use the de minimis indirect cost rate as allowed in the Uniform Guidance, section 414.
At year-end, the City had no loans or loan guarantees outstanding with federal awarding agencies.