Notes to SEFA
Title: Subrecipients
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards has been prepared in accordance with accounting principles generally accepted in the United States of America as promulgated by GASB. It is a summary of the activity of the City’s federal award programs prepared on the modified accrual basis of accounting. Accordingly, expenditures are recognized when the liability has been incurred and revenues are recognized when the qualifying expenditure has been incurred.
De Minimis Rate Used: N
Rate Explanation: The City did not elect to use the 10% federal de minimis indirect cost rate.
There were $256,294 passed to subrecipients related through ALN 21.027 to federal awards noted during the year ended September 30, 2023.
Title: Other
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards has been prepared in accordance with accounting principles generally accepted in the United States of America as promulgated by GASB. It is a summary of the activity of the City’s federal award programs prepared on the modified accrual basis of accounting. Accordingly, expenditures are recognized when the liability has been incurred and revenues are recognized when the qualifying expenditure has been incurred.
De Minimis Rate Used: N
Rate Explanation: The City did not elect to use the 10% federal de minimis indirect cost rate.
The City did not receive any federal insurance or noncash assistance during the year ended September 30, 2023.