Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on modified accrual basis of accounting where
expenditures are generally recorded when a liability is incurred. Such expenditures are recognized following
the cost principles contained in the Uniform Guidance. The City has chosen not to use the 10% de-minimus
indirect cost rate as allowed under the Uniform Guidance. Federal non-cash assistance included in the
Schedule, such as donated property or donated equipment, is valued at acquisition value at the time of
receipt or the assessed value provided by the federal agency. Negative amounts shown on the Schedule
represent adjustments or credits made in the normal course of business to amounts reported as expenditures
in prior years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award
activity of the City of Boise, Idaho (the City) under programs of the federal government for the year ended
September 30, 2023. The information on this Schedule is prepared 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 and is presented as supplemental information within
the City’s annual comprehensive financial report for the year ended September 30, 2023.
Title: SUBRECIPIENTS
Accounting Policies: Expenditures reported on the Schedule are reported on modified accrual basis of accounting where
expenditures are generally recorded when a liability is incurred. Such expenditures are recognized following
the cost principles contained in the Uniform Guidance. The City has chosen not to use the 10% de-minimus
indirect cost rate as allowed under the Uniform Guidance. Federal non-cash assistance included in the
Schedule, such as donated property or donated equipment, is valued at acquisition value at the time of
receipt or the assessed value provided by the federal agency. Negative amounts shown on the Schedule
represent adjustments or credits made in the normal course of business to amounts reported as expenditures
in prior years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The City passed through certain federal awards to other non-Federal entities, as subrecipients, to carry out
part of a federal program. Expenditures are recorded when awards are disbursed to subrecipients. The
City is responsible for monitoring its subrecipients to ensure these subawards are used to fulfill the program
requirements in accordance with contracts, laws, regulations and that the subrecipients meet program goals.
Expenditures made to subrecipients are separately disclosed on the Schedule.
Title: LOANS WITHOUT CONTINUING COMPLIANCE REQUIREMENTS
Accounting Policies: Expenditures reported on the Schedule are reported on modified accrual basis of accounting where
expenditures are generally recorded when a liability is incurred. Such expenditures are recognized following
the cost principles contained in the Uniform Guidance. The City has chosen not to use the 10% de-minimus
indirect cost rate as allowed under the Uniform Guidance. Federal non-cash assistance included in the
Schedule, such as donated property or donated equipment, is valued at acquisition value at the time of
receipt or the assessed value provided by the federal agency. Negative amounts shown on the Schedule
represent adjustments or credits made in the normal course of business to amounts reported as expenditures
in prior years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The City has revolving loan fund programs which were originally funded with federal financial assistance
through the Community Development Block Grants/Entitlement Grants Cluster (CFDA Number 14.218). Under
these loan agreements, the City has either loaned money to eligible homeowners to rehabilitate their homes
or to eligible homebuyers to obtain affordable housing, in the form of a low-interest loan with a 1st or 2nd Deed
of Trust. New loans originated from the revolving loan fund programs are subject to the same compliance
requirements imposed by the Federal Department of Housing and Urban Development (HUD) as the initial
loans. The loans under this program have no continuing compliance requirements other than continued loan
payments, therefore, the outstanding loan balances of such loans have not been included in the Schedule
and major program determination. The outstanding balance on these loans at September 30, 2023 was $1,699.
Title: MATCHING REQUIREMENTS
Accounting Policies: Expenditures reported on the Schedule are reported on modified accrual basis of accounting where
expenditures are generally recorded when a liability is incurred. Such expenditures are recognized following
the cost principles contained in the Uniform Guidance. The City has chosen not to use the 10% de-minimus
indirect cost rate as allowed under the Uniform Guidance. Federal non-cash assistance included in the
Schedule, such as donated property or donated equipment, is valued at acquisition value at the time of
receipt or the assessed value provided by the federal agency. Negative amounts shown on the Schedule
represent adjustments or credits made in the normal course of business to amounts reported as expenditures
in prior years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Certain Federal programs require the City to contribute non-Federal funds (matching funds) to support the
Federally-funded programs. The City has met its matching requirements. The Schedule does not include the
expenditure of non-Federal matching funds.