Notes to SEFA
Title: Note 1 - Basis of Presentation
Accounting Policies: See form
De Minimis Rate Used: N
Rate Explanation: See form
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the City of Nashua, New Hampshire (the City) under programs of the federal government for the year ended June 30, 2022. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Require-ments for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the City, it is not intended to and does not present the financial position, changes in net position, or cash flows of the City.
Title: Note 2 - Summary of Significant Accounting Policies
Accounting Policies: See form
De Minimis Rate Used: N
Rate Explanation: See form
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited to reimbursement.
The amounts reported for the National School Lunch Program – Non-Cash Assistance represent the fair value of commodities received.
Expenditures awarded from the Federal Emergency Management Agency (FEMA), must be presented on the Schedule when; 1) FEMA has approved the City’s project worksheet (PW) and 2) the City has incurred the eligible expenditures. The $47,783 reported for Disaster Grants – Public Assistance (Presidentially Declared Disasters), Assistance Listing Number 97.036, represents expenditures incurred in prior years that were approved by FEMA during fiscal year 2022.
Title: Note 3 - De Minimis Cost Rate
Accounting Policies: See form
De Minimis Rate Used: N
Rate Explanation: See form
The City has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: Note 4 - Donated Personal Protective Equipment (PPE) (Unaudited)
Accounting Policies: See form
De Minimis Rate Used: N
Rate Explanation: See form
During fiscal year 2022, the City did not receive donated PPE from federal sources.
Title: Note 5 – U.S. Department of Commerce, Economic Adjustment Assistance Revolving Loan Fund (RLF)
Accounting Policies: See form
De Minimis Rate Used: N
Rate Explanation: See form
For the purpose of presenting the Schedule in accordance with Uniform Guidance, the U.S. Department of Commerce, Economic Adjustment Assistance RLF federal expenditures are calculated as follows: