Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards and state financial assistance includes the federal and state grant activity of the City of Ocala, Florida and is presented on the
accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The City charged direct costs to grants
The accompanying schedule of expenditures of federal awards and state financial assistance includes the federal and state grant activity of the City of Ocala, Florida and is presented on the
accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Federal OMB Uniform Guidance, Audits of States, Local Governments, and
Non-Profit Organizations and Chapter 10.550, Rules of the Auditor General. Therefore some amounts presented in this schedule may differ from amounts presented in, or used in, the
Title: Indirect Cost Rate
Accounting Policies: The accompanying schedule of expenditures of federal awards and state financial assistance includes the federal and state grant activity of the City of Ocala, Florida and is presented on the
accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The City charged direct costs to grants
The City of Ocala did not elect to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: Additional Information
Accounting Policies: The accompanying schedule of expenditures of federal awards and state financial assistance includes the federal and state grant activity of the City of Ocala, Florida and is presented on the
accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The City charged direct costs to grants
Assistance Listing Number 97.036 Disaster Grants. Public Assistance (Presidentially Declared Disasters) include $371,973 in expenditures that occurred prior to October 1, 2022.