Notes to SEFA
Title: NOTE 3: SUBRECIPIENTS
Accounting Policies: THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS INCLUDES THE FEDERAL GRANT ACTIVITY OF THE CITY OF SPRING VALLEY AND IS PRESENTED ON THE ACCRUAL BASIS OF ACCOUNTING. THE INFORMATION IN THIS SCHEDULE IS PRESENTED IN ACCORDANCE WITH THE REQUIREMENTS OF THE OFFICE OF MANAGEMENT AND BUDGET UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS. THEREFORE, SOME AMOUNTS PRESENTED IN THIS SCHEDULE MAY DIFFER FROM AMOUNTS PRESENTED IN, OR USED IN THE PREPARATION OF, THE VASIC FINANCIAL STATEMENTS.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
OF THE FEDERAL EXPENDITURES PRESENTED IN THE SCHEDULE, THE CIY OF SPRING VALLEY PROVIDED NO FEDERAL AWARDS TO SUBRECIPIENTS.
Title: NOTE 4: NON-CASH ASSISTANCE
Accounting Policies: THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS INCLUDES THE FEDERAL GRANT ACTIVITY OF THE CITY OF SPRING VALLEY AND IS PRESENTED ON THE ACCRUAL BASIS OF ACCOUNTING. THE INFORMATION IN THIS SCHEDULE IS PRESENTED IN ACCORDANCE WITH THE REQUIREMENTS OF THE OFFICE OF MANAGEMENT AND BUDGET UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS. THEREFORE, SOME AMOUNTS PRESENTED IN THIS SCHEDULE MAY DIFFER FROM AMOUNTS PRESENTED IN, OR USED IN THE PREPARATION OF, THE VASIC FINANCIAL STATEMENTS.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
THE FOLLOWING AMOUNTS WERE EXPENDED IN THE FORM OF NON-CASH ASSISTANCE BY THE CITY OF SPRING VALLEY AND ARE NOT INCLUDED IN THE SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS: $0
Title: NOTE 5: OTHER INFORMATION
Accounting Policies: THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS INCLUDES THE FEDERAL GRANT ACTIVITY OF THE CITY OF SPRING VALLEY AND IS PRESENTED ON THE ACCRUAL BASIS OF ACCOUNTING. THE INFORMATION IN THIS SCHEDULE IS PRESENTED IN ACCORDANCE WITH THE REQUIREMENTS OF THE OFFICE OF MANAGEMENT AND BUDGET UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS. THEREFORE, SOME AMOUNTS PRESENTED IN THIS SCHEDULE MAY DIFFER FROM AMOUNTS PRESENTED IN, OR USED IN THE PREPARATION OF, THE VASIC FINANCIAL STATEMENTS.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
THERE WERE NO INSURANCE COVERAGE IN EFFECT PAID WITH FEDERAL FUNDS DURING THE FISCAL YEAR.