Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. All federal expenditures were accounted for in the General Fund, Capital Projects Fund and Enterprise Funds, components of the Governmental Fund type and Proprietary Fund type. Such expenditures are recognized following the cost principles containted in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement. No federal financial assistance has been provided to a subrecipient. Federal grants are considered to be earned to the extent of expenditures made under the provisions of the grant.
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 accompanying schedule of expenditures of federal awards ("the Schedule") includes the federal grant activity of the City of Bandera, Texas. 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 Requirments, Cost Principles, and Audit Requirements for Federal Awards ("Uniform Guidance"). Federal and State financial assistance was accounted for in the Governmental Fund Types.