Notes to SEFA
Title: NOTE 1 - BASIS OF PRESENTATION
Accounting Policies: Expenditures reported in the schedule are reported on the modified accrual 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 does not draw for indirect administrative expenses and has not elected to use the 10% de minimums
cost rate.
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity
of the City of Caldwell, Idaho (the City) under programs of the federal government for the year ended
September 30, 2023. The information 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 of the City.
Title: NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported in the schedule are reported on the modified accrual 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 does not draw for indirect administrative expenses and has not elected to use the 10% de minimums
cost rate.
Expenditures reported in the schedule are reported on the modified accrual 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.
Title: NOTE 3 - INDIRECT COST RATE
Accounting Policies: Expenditures reported in the schedule are reported on the modified accrual 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 does not draw for indirect administrative expenses and has not elected to use the 10% de minimums
cost rate.
The City does not draw for indirect administrative expenses and has not elected to use the 10% de minimums
cost rate.