Notes to SEFA
Title: NOTE A - BASIS OF PRESENTATION
Accounting Policies: THE SCHEDULE IS PRESENTED ON THE MODIFIED ACCRUAL BASIS OF ACCOUNTING.
De Minimis Rate Used: N
Rate Explanation: THE CITY DID NOT ASSESS ANY INDIRECT COSTS TO FEDERAL PROGRAM EXPENDITURES.
THE INFORMATION IN THIS SCHEDULE IS PRESENTED IN ACCORDANCE WITH THE REQUIREMENTS OF TITLE 2 U.S. CODE OF FEDERAL RUGULATIONS (CRF) PART 200, UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS (UNIFORM GUDIANCE). BECAUSE THE SCHEDULE PRESENTS ONLY A SELECTED PORTION OF THE CITY'S OPERATIONS, IT IS NOT INTENDED TO AND DOES NOT PRESENT THE FINANCIAL POSITION, CHANGES IN NET POSITION, OR CASH FLOWS.
Title: NOTE B - SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: THE SCHEDULE IS PRESENTED ON THE MODIFIED ACCRUAL BASIS OF ACCOUNTING.
De Minimis Rate Used: N
Rate Explanation: THE CITY DID NOT ASSESS ANY INDIRECT COSTS TO FEDERAL PROGRAM EXPENDITURES.
THE SCHEDULE IN PRESENTED ON THE MODIFIED ACCRUAL BASIS OF ACCOUNTING.
Title: NOTE C - NON-CASH AWARDS
Accounting Policies: THE SCHEDULE IS PRESENTED ON THE MODIFIED ACCRUAL BASIS OF ACCOUNTING.
De Minimis Rate Used: N
Rate Explanation: THE CITY DID NOT ASSESS ANY INDIRECT COSTS TO FEDERAL PROGRAM EXPENDITURES.
THE CITY DID NOT RECEIVE OR DISBURSE ANY NON-CASH AWARDS.
Title: NOTE D - SUBRECEIPIENTS
Accounting Policies: THE SCHEDULE IS PRESENTED ON THE MODIFIED ACCRUAL BASIS OF ACCOUNTING.
De Minimis Rate Used: N
Rate Explanation: THE CITY DID NOT ASSESS ANY INDIRECT COSTS TO FEDERAL PROGRAM EXPENDITURES.
THE CITY DID NOT PROVIDE FEDERAL AWARDS TO ANY SUBRECIPIENTS.
Title: NOTE E - LOAN OR LOAN GURANTEE PROGRAMS
Accounting Policies: THE SCHEDULE IS PRESENTED ON THE MODIFIED ACCRUAL BASIS OF ACCOUNTING.
De Minimis Rate Used: N
Rate Explanation: THE CITY DID NOT ASSESS ANY INDIRECT COSTS TO FEDERAL PROGRAM EXPENDITURES.
THE CITY DID NOT EXPEND ANY AMOUNT OF FEDERAL AWARDS FOR LOAN OR LOAN GUARANTEE PROGRAMS. THERE ARE NO OUTSTANDING BALANCES OF LOAN OR LOAN GUARANTEEE PROGRAMS AT AUGUST 31, 2023.
Title: NOTE F - DE MINIMIS INDIRECT COST RATE
Accounting Policies: THE SCHEDULE IS PRESENTED ON THE MODIFIED ACCRUAL BASIS OF ACCOUNTING.
De Minimis Rate Used: N
Rate Explanation: THE CITY DID NOT ASSESS ANY INDIRECT COSTS TO FEDERAL PROGRAM EXPENDITURES.
THE CITY ELECTED NOT TO USE THE 10% DE MINIMUS INDIRECT COST RATE ALLOWED UNDER THE UNIFORM GUIDANCE.