Notes to SEFA
Title: A. Significant Accounting Policies used in preparing the SEFA
Accounting Policies: The Schedule of Expenditures of Federal Awards was prepared on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The City did not elect the 10% de Minimis indirect cost rate. The City doesn't receive money for administrative costs.
The Schedule of Expenditures of Federal Awards was prepared on the accrual basis of accounting.
Title: B. Insurance Requirements
Accounting Policies: The Schedule of Expenditures of Federal Awards was prepared on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The City did not elect the 10% de Minimis indirect cost rate. The City doesn't receive money for administrative costs.
There are no insurance requirements on the federal awards disclosed on the Schedule of Expenditures of Federal Awards.
Title: C. De Minimis
Accounting Policies: The Schedule of Expenditures of Federal Awards was prepared on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The City did not elect the 10% de Minimis indirect cost rate. The City doesn't receive money for administrative costs.
The City did not elect the 10% de Minimis indirect cost rate. The City doesn't receive money for administrative costs.
Title: D. Loans or Loan Guarantees
Accounting Policies: The Schedule of Expenditures of Federal Awards was prepared on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The City did not elect the 10% de Minimis indirect cost rate. The City doesn't receive money for administrative costs.
There were no federal loans as of June 30, 2023.