Notes to SEFA
Title: NOTE 1—BASIS OF ACCOUNTING
Accounting Policies: This schedule is prepared on the same basis of accounting as the City’s financial statements. The City reports on the cash basis of accounting for all funds.
De Minimis Rate Used: N
Rate Explanation: The City has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
This schedule is prepared on the same basis of accounting as the City’s financial statements. The City reports on the cash basis of accounting for all funds.
Title: NOTE 2—FEDERAL DE MINIMIS INDIRECT RATE
Accounting Policies: This schedule is prepared on the same basis of accounting as the City’s financial statements. The City reports on the cash basis of accounting for all funds.
De Minimis Rate Used: N
Rate Explanation: The City has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The City has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: NOTE 3—PROGRAM COSTS
Accounting Policies: This schedule is prepared on the same basis of accounting as the City’s financial statements. The City reports on the cash basis of accounting for all funds.
De Minimis Rate Used: N
Rate Explanation: The City has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The amounts shown as current year expenditures represent only the federal grant portion of the program costs. Entire program costs, including the City’s portion, may be more than show. Such expenditures are recognized following, as applicable, either the cost principles in the OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.