Notes to SEFA
Title: 1. General
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of accounting, which is described in Note 1 to the City’s financial statements.
De Minimis Rate Used: N
Rate Explanation: The City does not utilize the 10 percent de minimis indirect cost allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal financial assistance programs of the City of Vestavia Hills, Alabama. All federal financial assistance received directly from federal agencies, as well as federal financial assistance passed through other state and local government agencies, is included in the schedule.
Title: 4. Federally funded insurance and federally funded loans
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of accounting, which is described in Note 1 to the City’s financial statements.
De Minimis Rate Used: N
Rate Explanation: The City does not utilize the 10 percent de minimis indirect cost allowed under the Uniform Guidance.
The City had no federally funded insurance and no federally funded loans or loan guarantee for the fiscal year ended September 30, 2023.
Title: 5. Non-cash awards
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of accounting, which is described in Note 1 to the City’s financial statements.
De Minimis Rate Used: N
Rate Explanation: The City does not utilize the 10 percent de minimis indirect cost allowed under the Uniform Guidance.
During the year ended September 30, 2023, the City did not receive any non-cash federal assistance.