Notes to SEFA
Accounting Policies: Basis of Presentation and Significant Accounting Policies
The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes the federal grant
activity of City of Baker, Fallon County, Montana. The information in this schedule is presented in
accordance with the requirements Title 2 U.S. Code of Federal Regulations Part 200, Uniform
Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
Because the schedule presents only a selected portion of the operations of the City of Baker, it is
not intended to and does not present the financial position, changes in net position, or cash flows
of the City of Baker. Therefore, some amounts presented in this schedule may differ from amounts
presented in, or used in preparation of the basic financial statements.
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, whe ein certain types of expenditures are not allowable or are limited as to
reimbursement.
De Minimis Rate Used: N
Rate Explanation: The City of Baker has elected not to use the 10 percent d Minimis indirect cost rate as provided in Sec. 200.414 Indirect Costs under Uniform Guidance.