Notes to SEFA
Title: Note 1 - Basis of Presentation
Accounting Policies: Note 1 - Basis of Presentation - The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of the City of Haleyville under programs of the federal government for the year ended September 30, 2022. The information in this Schedule is presented in accordance with the requirements of 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 presents only a selected portion of the operations of the City of Haleyville, it is not intended to and does not present the financial position, changes in net position or cash flows of the City of Halevyille. Note 2 - Summary of Significant Accounting Policies - Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. 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. Negative amounts show on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Note 3 - Indirect Cost Rate - The City of Haleyville has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Indirect cost rates were not applicable to the grants tested.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of the City of Haleyville under programs of the federal government for the year ended September 30, 2022. The information in this Schedule is presented in accordance with the requirements of 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 presents only a selected portion of the operations of the City of Haleyville, it is not intended to and does not present the financial position, changes in net position or cash flows of the City of Halevyille.
Title: Note 2 - Summary of Significant Accounting Policies
Accounting Policies: Note 1 - Basis of Presentation - The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of the City of Haleyville under programs of the federal government for the year ended September 30, 2022. The information in this Schedule is presented in accordance with the requirements of 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 presents only a selected portion of the operations of the City of Haleyville, it is not intended to and does not present the financial position, changes in net position or cash flows of the City of Halevyille. Note 2 - Summary of Significant Accounting Policies - Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. 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. Negative amounts show on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Note 3 - Indirect Cost Rate - The City of Haleyville has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Indirect cost rates were not applicable to the grants tested.
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. 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. Negative amounts show on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
Title: Note 3 - Indirect Cost Rate
Accounting Policies: Note 1 - Basis of Presentation - The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of the City of Haleyville under programs of the federal government for the year ended September 30, 2022. The information in this Schedule is presented in accordance with the requirements of 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 presents only a selected portion of the operations of the City of Haleyville, it is not intended to and does not present the financial position, changes in net position or cash flows of the City of Halevyille. Note 2 - Summary of Significant Accounting Policies - Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. 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. Negative amounts show on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Note 3 - Indirect Cost Rate - The City of Haleyville has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Indirect cost rates were not applicable to the grants tested.
The City of Haleyville has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.