Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: The schedule of expenditures of federal awards and state financial assistance is prepared on the accrual basis of accounting. The information in the schedule of expenditures of federal awards and state financial assistance is presented in accordance with the 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 of expenditures of federal awards and state financial assistance presents only a selected portion of the City’s operations, they are not intended to and do not present the financial position, changes in net position, or cash flows of the City.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The schedule of expenditures of federal awards and state financial assistance is prepared on the
accrual basis of accounting. The information in the schedule of expenditures of federal awards and
state financial assistance is presented in accordance with the 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 of expenditures of federal awards and state financial assistance presents only
a selected portion of the City’s operations, they are not intended to and do not present the financial
position, changes in net position, or cash flows of the City.
Title: CONTINGENCY
Accounting Policies: The schedule of expenditures of federal awards and state financial assistance is prepared on the accrual basis of accounting. The information in the schedule of expenditures of federal awards and state financial assistance is presented in accordance with the 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 of expenditures of federal awards and state financial assistance presents only a selected portion of the City’s operations, they are not intended to and do not present the financial position, changes in net position, or cash flows of the City.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The grant revenue amounts received are subject to audit and adjustment. If any expenditures are
disallowed by the grantor agencies as a result of such an audit, any claim for reimbursement to the
grantor agencies would become a liability of the City. In the opinion of management, all grant
expenditures are in compliance with the terms of the grant agreements and applicable federal and
state laws and regulations.
Title: DE MINIMIS COST RATE
Accounting Policies: The schedule of expenditures of federal awards and state financial assistance is prepared on the accrual basis of accounting. The information in the schedule of expenditures of federal awards and state financial assistance is presented in accordance with the 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 of expenditures of federal awards and state financial assistance presents only a selected portion of the City’s operations, they are not intended to and do not present the financial position, changes in net position, or cash flows of the City.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The City has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.