Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards 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, using the modified accrual basis of accounting. Therefore, some amounts presented in this schedule may differ from amounts presented in the financial statements. The City does not charge a de minimis indirect cost rate. 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 fund balance, or cash flows of the City. The accompanying schedule of expenditures of federal awards is presented using the modified accrual basis
of accounting.
De Minimis Rate Used: N
Rate Explanation: City did not use the de minimis rate on grants.
The accompanying schedule of expenditures of federal awards 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, using the modified accrual basis of
accounting. Therefore, some amounts presented in this schedule may differ from amounts presented in the
financial statements. The City does not charge a de minimis indirect cost rate. 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 fund balance, or cash flows of the City.
The accompanying schedule of expenditures of federal awards is presented using the modified accrual basis
of accounting.
Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal awards 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, using the modified accrual basis of accounting. Therefore, some amounts presented in this schedule may differ from amounts presented in the financial statements. The City does not charge a de minimis indirect cost rate. 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 fund balance, or cash flows of the City. The accompanying schedule of expenditures of federal awards is presented using the modified accrual basis
of accounting.
De Minimis Rate Used: N
Rate Explanation: City did not use the de minimis rate on grants.
Governmental fund types account for the majority of the City’s federal grant activity. Expenditures reported
in the schedule of expenditures of federal awards are recognized on a modified basis of accounting.
Subrecipient expenditures are recorded on a cash basis. Such expenditures are recognized following the
cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable
or limited as to reimbursement. Non-cash expenditures are included in the schedule.
Title: Indirect Cost Rate
Accounting Policies: The accompanying schedule of expenditures of federal awards 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, using the modified accrual basis of accounting. Therefore, some amounts presented in this schedule may differ from amounts presented in the financial statements. The City does not charge a de minimis indirect cost rate. 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 fund balance, or cash flows of the City. The accompanying schedule of expenditures of federal awards is presented using the modified accrual basis
of accounting.
De Minimis Rate Used: N
Rate Explanation: City did not use the de minimis rate on grants.
The City has not elected to use the 10% de minimis cost rate.