Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the modified 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.
Negative amounts shown on the Schedule represent adjustments or credits made in the normal
course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The City of Grand Forks has not elected to use the 10-percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the
federal award activity of the City of Grand Forks under programs of the federal government for the
year ended December 31, 2023. 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).
Because the Schedule presents only a selected portion of operations of the City of Grand Forks it
is not intended to and does not present the financial position, change in net position, or cash flows
of the City of Grand Forks.
Title: PROGRAM INCOME
Accounting Policies: Expenditures reported on the Schedule are reported on the modified 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.
Negative amounts shown on the Schedule represent adjustments or credits made in the normal
course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The City of Grand Forks has not elected to use the 10-percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
As of December 31, 2023, the City of Grand Forks earned $645,839 in program income from its
CDBG Emergency Supplemental Appropriation and Revolving Loan Fund Grants.
Title: MATCHING COSTS
Accounting Policies: Expenditures reported on the Schedule are reported on the modified 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.
Negative amounts shown on the Schedule represent adjustments or credits made in the normal
course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The City of Grand Forks has not elected to use the 10-percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards does not include matching
expenditures.
Title: EDA REVOLVING LOAN FUNDS (RLF) GRANT
Accounting Policies: Expenditures reported on the Schedule are reported on the modified 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.
Negative amounts shown on the Schedule represent adjustments or credits made in the normal
course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The City of Grand Forks has not elected to use the 10-percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes $1,456,149 reported for
AL 11.307. This amount does not represent current year expenditures. See calculation below: (SEE TABLE IN NOTES TO SEFA)