Notes to SEFA
Title: NOTE 1 - Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the modified cash 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. The City has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
De Minimis Rate Used: N
Rate Explanation: Not used
The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal award activity of the City under
programs of the federal government for the year ended December 31, 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, it is not intended to and does not present the financial position, changes in net position, or cash flows of the
City.
Title: NOTE 2 - Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the modified cash 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. The City has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
De Minimis Rate Used: N
Rate Explanation: Not used
Expenditures reported on the Schedule are reported on the modified cash 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. The City has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
Title: NOTE 3 - Major Federal Financial Assistance Program
Accounting Policies: Expenditures reported on the Schedule are reported on the modified cash 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. The City has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
De Minimis Rate Used: N
Rate Explanation: Not used
This represents a Major Federal Financial Assistance Program.