Notes to SEFA
Title: Subrecipients
Accounting Policies: The schedule of expenditures of federal awards is prepared on the modified accrual basis of accounting. Expenditures are recognized when they become a demand on current available financial resources. Encumbrances are used during the year for budgetary control purposes and lapse at fiscal year-end. The information in this Schedule is presented in accordance with the requirements of 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
Federal expenditures for ALN 20.205 include $1,656,481 of expenses that were incurred in 2022 and not reported on the 2022 SEFA. These expenses and related revenues are included in the 2023 SEFA.
De Minimis Rate Used: N
Rate Explanation: The City has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The City did not have subrecipients of federal awards for the year ended December 31, 2023.