Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Therefore, amounts reported on the
Schedule are based on expenditures incurred as of September 30, 2021, even if grant or loan was received subsequent to that date.
Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal awards activity of the City of
Clermont, Florida (the City) under programs of the federal government for the year ended September 30, 2021. 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 the operations of the City, it is not intended to and does not present the financial
position, changes in net position or cash flows of the City.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Therefore, amounts reported on the
Schedule are based on expenditures incurred as of September 30, 2021, even if grant or loan was received subsequent to that date.
Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Therefore, amounts reported on the
Schedule are based on expenditures incurred as of September 30, 2021, even if grant or loan was received subsequent to that date.
Pass-through entity identifying numbers are presented where available.
Title: Indirect Cost rate
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Therefore, amounts reported on the
Schedule are based on expenditures incurred as of September 30, 2021, even if grant or loan was received subsequent to that date.
Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance
The City has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance