Notes to SEFA
Title: Note 1
Accounting Policies: The accompanying Schedule of Expenditures of Federal
Awards includes the federal grant activity of the City of South Sioux City, Nebraska
and is presented on the cash basis of accounting. Expenditures are recognized
following the cost principles contained in the Uniform Guidance and OMB Circular A-
87. 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). Therefore, some amounts presented in this schedule may differ from
amounts presented in, or used in the preparation of, the financial statements. The City
has not elected to use the 10% de minimis indirect cost rate as allowed under the
Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: No indirect costs are allocated, therefore no indirect cost rate is needed. The City
has not elected to use the 10% de minimis indirect cost rate as allowed under the
Uniform Guidance.
Basis of Presentation – The accompanying Schedule of Expenditures of Federal
Awards includes the federal grant activity of the City of South Sioux City, Nebraska
and is presented on the cash basis of accounting. Expenditures are recognized
following the cost principles contained in the Uniform Guidance and OMB Circular A-
87. 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). Therefore, some amounts presented in this schedule may differ from
amounts presented in, or used in the preparation of, the financial statements. The City
has not elected to use the 10% de minimis indirect cost rate as allowed under the
Uniform Guidance.
Title: Note 2
Accounting Policies: The accompanying Schedule of Expenditures of Federal
Awards includes the federal grant activity of the City of South Sioux City, Nebraska
and is presented on the cash basis of accounting. Expenditures are recognized
following the cost principles contained in the Uniform Guidance and OMB Circular A-
87. 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). Therefore, some amounts presented in this schedule may differ from
amounts presented in, or used in the preparation of, the financial statements. The City
has not elected to use the 10% de minimis indirect cost rate as allowed under the
Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: No indirect costs are allocated, therefore no indirect cost rate is needed. The City
has not elected to use the 10% de minimis indirect cost rate as allowed under the
Uniform Guidance.
The City of South Sioux City has the following loan balance outstanding from the
Nebraska State Revolving Fund, Assistance Listing Number 66.468 at September 30,
2023.
Total Amount
of Loan
Outstanding
Federal Portion
of Loan
Outstanding
Combined Utility SRF $ 610,155 $ 274,570
The City of South Sioux City had the following balance outstanding from the Nebraska
State Revolving Fund, Assistance Listing Number 66.458 at September 30, 2023.
Total Amount
of Loan
Outstanding
Federal Portion
of Loan
Outstanding
Combined Utility SRF $ 1,019,997 $ 244,799
The South Sioux City Community Foundation had the following balance outstanding
from the United States Department of Agriculture (USDA) Rural Development,
Assistance Listing Number 10.766 at September 30, 2023.
Total Amount
of Loan
Outstanding
Federal Portion
of Loan
Outstanding
Notes Payable $ 1,801,505 $ 1,801,505