Notes to SEFA
Accounting Policies: NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported on the Schedule are reported on accounting principles generally accepted in the United States of
America. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and/or OMB
Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments wherein certain types of expenditures are
not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: NOTE C - INDIRECT COST RATE
City of Farmington, Missouri, has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform
Guidance.