Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards and schedule of state
financial assistance 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 as to reimbursement. Certain amounts shown on the
schedule of expenditures of federal awards and schedule of state financial assistance represent
adjustments or credits made in the normal course of business to amounts reported as expenditures in
prior years. The City has elected not to use the 10-percent de minimis indirect cost rate as allowed
under the Uniform Guidance
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10-percent de minimis indirect cost rate as allowed
under the Uniform Guidance
The accompanying schedule of expenditures of federal awards and schedule of state financial
assistance include the award activity of the City under programs of the federal and state governments,
respectively, 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 of expenditures of federal awards and schedule of state financial
assistance present only a selected portion of the operations of the City, they are not intended to and do
not present the financial position, statement of activities, or cash flows of the City.