Notes to SEFA
Accounting Policies: Expenditures in the schedule are presented in accordance with the modified accrual basis of accounting and are
generally in agreement with expenditures reported in the City’s 2023 fund financial statements. Accounts
receivable at year-end consists of federal program expenditures scheduled for reimbursement to the City in the
succeeding year while unearned revenue represents advances for federal programs that exceed recorded City
expenditures. Because of subsequent program adjustments, these amounts may differ from the prior year’s
ending balances. Expenditures are recognized following the cost principles contained in the Uniform Guidance,
wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: N/A