Notes to SEFA
Accounting Policies: Expenditures reported in the schedule are reported on the modified accrual basis of accounting. 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. No federal financial assistance has been provided to a subrecipient. The City has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. No federal financial assistance has been provided to a subrecipient.
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 minimus cost rate.