Notes to SEFA
Title: Federal Award Identification Numbers
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) presents the federal financial assistance programs of the City of Raton, New Mexico (the “City”), and is presented on the modified accrual basis of accounting. The information in the schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards. Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10% de minimis indirect cost rate.
The federal granting agency is responsible for providing the City with the Assistance Listing Number (ALN) for each grant or contract. In cases where the federal granting agency did not provide the ALN to the City, other identifying numbers are presented on the Schedule.
In addition, for pass-through awards, the pass-through granting agencies are responsible
for providing the City with pass-through grantor numbers. In cases where the passthrough granting agency did not provide this number to the City, it is blank on the
Schedule.
Title: Outstanding Bonds with the U.S. Department of Agriculture
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) presents the federal financial assistance programs of the City of Raton, New Mexico (the “City”), and is presented on the modified accrual basis of accounting. The information in the schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards. Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10% de minimis indirect cost rate.
In April 2006 and June 2020, the City issued bonds with the U.S. Department of Agriculture for improvements to its water and wastewater system. All funds under these bonds have been expended as of June 30, 2023. Bonds outstanding at June 30, 2023 totaled $3,650,332 and are included in long-term debt of business-type activities in the statement of net position. See Note 8 to the financial statements for more information regarding these bonds.