Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award
activity of the City 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, it is
not intended to and does not present the financial position, changes in net position or fund balance, or cash
flows of the City.
Expenditures reported in the schedule are reported on the modified accrual basis of accounting basis of
accounting, except for subrecipient expenditures, which are recorded on the cash basis. When applicable, such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.