Notes to SEFA
Accounting Policies: NOTE A - BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award
activity of City of Austell, Georgia under programs of the federal government for the year ended June 30,
2023. The information in the 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
p01tion of the operations of City of Austell, Georgia, it is not intended to and does not present the financial
position, changes in net assets, or cash flows of City of Austell, Georgia.
NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures
are recognized following the cost principles contained in the Uniform Guidance, wherein ce1tain types of
expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: NOTE C - INDIRECT COST RATE
The City elected not to utilize the I 0% de minimus indirect cost rate.
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