Notes to SEFA
Title: DEFERRED AWARDS
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the City of Uniontown (the City) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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 basic financial statements.
De Minimis Rate Used: N
Rate Explanation: Expenditures included in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The City has elected not to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.
Pass-through entity identifying numbers are presented where applicable.
Certain costs included in the accompanying schedule of expenditures of federal awards have been capitalized for financial statement purposes and are, therefore, not included in the accompanying statement of activities.
The City recognizes federal grants in excess of program expenditures as deferred awards. Deferred awards utilized as expenses are incurred through performance of the program.
Title: ACCRUED AWARDS
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the City of Uniontown (the City) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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 basic financial statements.
De Minimis Rate Used: N
Rate Explanation: Expenditures included in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The City has elected not to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.
Pass-through entity identifying numbers are presented where applicable.
Certain costs included in the accompanying schedule of expenditures of federal awards have been capitalized for financial statement purposes and are, therefore, not included in the accompanying statement of activities.
Grant revenues are accrued according to the specifications set forth in the specific grant agreements. Grants received by the City are based upon funds available for distribution by the grantor or pass-through entity. Therefore, the City recognizes expenditures in excess of grants as accrued awards.