Notes to SEFA
Accounting Policies: Revenues are
recognized as soon as they are both measurable and available. Revenues are considered
to be available when they are collectible within the current period or soon enough
thereafter to pay liabilities of the current period. For this purpose, the City generally
considers revenues to be available if they are collected within 60 days of the end of the
current fiscal period. Grant revenues are an exception, as they are considered available
when eligible expenditures have occurred even though they may be collected for up to
one year after the current fiscal year end.
De Minimis Rate Used: N
Rate Explanation: The City did not elect to use the de minimis cost rate