Notes to SEFA
Title: Reporting Entity
Accounting Policies: The accounting policies and presentation of the Schedule of Expenditures of Federal Awards are in accordance with accounting principles generally accepted in the United States of America as applicable to governmental organizations.
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.
For reporting entity purposes, the Schedule of Expenditures of Federal Awards include only the activities of the City of Sanford’s primary government and not the Airport Authority which is presented as a discretely presented component unit
Title: State Revolving Fund Loans
Accounting Policies: The accounting policies and presentation of the Schedule of Expenditures of Federal Awards are in accordance with accounting principles generally accepted in the United States of America as applicable to governmental organizations.
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.
For State Revolving Fund loans listed on the Schedule of Expenditures of Federal Awards, the City had the following loan balances outstanding at September 30, 2023.
Program Federal Grant Total
Title AL Number Number Outstanding
State Revolving Fund 66.468 WW590192 $ 9,720,259