Notes to SEFA
Title: Matching Costs
Accounting Policies: Basis of Presentation
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal awards programs administered by the City, an entity as defined in Note 1 to the City's basic financial statements. Federal awards received directly from federal agencies, as well as federal awards passed through from other government agencies, are included on the Schedule of Expenditures of Federal Awards. Basis of Accounting
The basis of accounting varies by federal program consistent with the underlying regulations pertaining to each program. Basis of Accounting
The basis of accounting varies by federal program consistent with the underlying regulations pertaining to each program. The amounts reported as federal expenditures generally were obtained from the appropriate
federal financial reports for the applicable program and periods. The amounts reported in these federal financial reports are prepared from records maintained for each program. These records are periodically reconciled to the general ledger, which is the source of the financial statements.
De Minimis Rate Used: N
Rate Explanation: Indirect Cost Rate: Indirect costs are included in the reported expenditures to the extent they are included in the federal financial reports used as the source for the data presented. The City has not elected to use the 10% de minimus cost rate allowed under Uniform Guidance.
Matching costs, such as the City's share of certain program costs, are not included in the reported expenditures.
Title: Revolving Loan Programs
Accounting Policies: Basis of Presentation
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal awards programs administered by the City, an entity as defined in Note 1 to the City's basic financial statements. Federal awards received directly from federal agencies, as well as federal awards passed through from other government agencies, are included on the Schedule of Expenditures of Federal Awards. Basis of Accounting
The basis of accounting varies by federal program consistent with the underlying regulations pertaining to each program. Basis of Accounting
The basis of accounting varies by federal program consistent with the underlying regulations pertaining to each program. The amounts reported as federal expenditures generally were obtained from the appropriate
federal financial reports for the applicable program and periods. The amounts reported in these federal financial reports are prepared from records maintained for each program. These records are periodically reconciled to the general ledger, which is the source of the financial statements.
De Minimis Rate Used: N
Rate Explanation: Indirect Cost Rate: Indirect costs are included in the reported expenditures to the extent they are included in the federal financial reports used as the source for the data presented. The City has not elected to use the 10% de minimus cost rate allowed under Uniform Guidance.
The City of Auburn operates a revolving loan program utilizing federal financial assistance received under the Community Development Block Grants/Small Cities and Entitlement Programs. Loans outstanding at June 30, 2023 under this program, as reported in the City’s financial statements, are as follows: The City disbursed new loans in the amount of $32,000 and received program income from repayment of loan principal in the amount of $204,500.
Title: Sub-Recipients
Accounting Policies: Basis of Presentation
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal awards programs administered by the City, an entity as defined in Note 1 to the City's basic financial statements. Federal awards received directly from federal agencies, as well as federal awards passed through from other government agencies, are included on the Schedule of Expenditures of Federal Awards. Basis of Accounting
The basis of accounting varies by federal program consistent with the underlying regulations pertaining to each program. Basis of Accounting
The basis of accounting varies by federal program consistent with the underlying regulations pertaining to each program. The amounts reported as federal expenditures generally were obtained from the appropriate
federal financial reports for the applicable program and periods. The amounts reported in these federal financial reports are prepared from records maintained for each program. These records are periodically reconciled to the general ledger, which is the source of the financial statements.
De Minimis Rate Used: N
Rate Explanation: Indirect Cost Rate: Indirect costs are included in the reported expenditures to the extent they are included in the federal financial reports used as the source for the data presented. The City has not elected to use the 10% de minimus cost rate allowed under Uniform Guidance.
The City of Auburn provided federal awards to sub-recipients as follows: