Notes to SEFA
Title: (1) Basis of Presentation
Accounting Policies: (1) Basis of Presentation - See Form for Detail, (2) Summary of Significant Accounting Policies - See Form for detail.
De Minimis Rate Used: N
Rate Explanation: See notes to the SEFA in the financial statements.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the City of Hogansville, Georgia under programs of the federal government for the fiscal year ended June 30, 2023. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administration 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 of Hogansville, Georgia, it is not intended to and does not present the financial position, changes in net position or cash flows of the City of Hogansville, Georgia.
Title: (2) Summary of Significant Accounting Policies
Accounting Policies: (1) Basis of Presentation - See Form for Detail, (2) Summary of Significant Accounting Policies - See Form for detail.
De Minimis Rate Used: N
Rate Explanation: See notes to the SEFA in the financial statements.
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: (3) Indirect Cost Rate
Accounting Policies: (1) Basis of Presentation - See Form for Detail, (2) Summary of Significant Accounting Policies - See Form for detail.
De Minimis Rate Used: N
Rate Explanation: See notes to the SEFA in the financial statements.
City of Hogansville, Georgia has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.