Title: Note 1 - Basis of Accounting
Accounting Policies: Note 1 - Basis of Accounting: This schedule is prepared on the same basis of accounting as the City's financial statements. The City uses the full accrual basis of accounting to account for its grants. Under the full accrual basis, revenues are recognized when earned, if measurable, and expenses are recognized when incurred, if measurable.
De Minimis Rate Used: Y
Rate Explanation: Note 2 - Federal De Minimis Indirect Cost Rate: The City has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
This schedule is prepared on the same basis of accounting as the City's financial statements. The City uses the full accrual basis of accounting to account for its grants. Under the full accrual basis, revenues are recognized when earned, if measurable, and expenses are recognized when incurred, if measurable.
Title: Note 2 - Federal De Minimis Indirect Cost Rate
Accounting Policies: Note 1 - Basis of Accounting: This schedule is prepared on the same basis of accounting as the City's financial statements. The City uses the full accrual basis of accounting to account for its grants. Under the full accrual basis, revenues are recognized when earned, if measurable, and expenses are recognized when incurred, if measurable.
De Minimis Rate Used: Y
Rate Explanation: Note 2 - Federal De Minimis Indirect Cost Rate: The City has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The City has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Note 3 - Revolving Loan - Program Income
Accounting Policies: Note 1 - Basis of Accounting: This schedule is prepared on the same basis of accounting as the City's financial statements. The City uses the full accrual basis of accounting to account for its grants. Under the full accrual basis, revenues are recognized when earned, if measurable, and expenses are recognized when incurred, if measurable.
De Minimis Rate Used: Y
Rate Explanation: Note 2 - Federal De Minimis Indirect Cost Rate: The City has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The City has a revolving loan program for low-income housing. Under this federal program, repayments to the City are considered program revenues (income) and loans of such funds to eligible recipients are considered expenditures. The amount of loan funds disbursed to program participants for the year was $608,528.00 and is presented in this schedule. The amount of principal and interest received in loan repayments for the year was $517,496.00.
Title: Note 4 - Noncash Awards - Equipment
Accounting Policies: Note 1 - Basis of Accounting: This schedule is prepared on the same basis of accounting as the City's financial statements. The City uses the full accrual basis of accounting to account for its grants. Under the full accrual basis, revenues are recognized when earned, if measurable, and expenses are recognized when incurred, if measurable.
De Minimis Rate Used: Y
Rate Explanation: Note 2 - Federal De Minimis Indirect Cost Rate: The City has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The City of Everett received equipment and supplies that were purchased with Federal Homeland Security funds by the City of Seattle. The amount of $119,974.00 reported on the Schedule is the value of the property on the date it was received by the City of Everett and priced by the City of Seattle.
Title: Note 5 - Award for Prior Year Expenditure
Accounting Policies: Note 1 - Basis of Accounting: This schedule is prepared on the same basis of accounting as the City's financial statements. The City uses the full accrual basis of accounting to account for its grants. Under the full accrual basis, revenues are recognized when earned, if measurable, and expenses are recognized when incurred, if measurable.
De Minimis Rate Used: Y
Rate Explanation: Note 2 - Federal De Minimis Indirect Cost Rate: The City has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The $41,728.00 expenditure for the Federal Communications Commission grant includes 2022 expenditures of $37,992.60 not included in prior years’ SEFA.
Title: Note 6 - Pass Through to Subrecipients
Accounting Policies: Note 1 - Basis of Accounting: This schedule is prepared on the same basis of accounting as the City's financial statements. The City uses the full accrual basis of accounting to account for its grants. Under the full accrual basis, revenues are recognized when earned, if measurable, and expenses are recognized when incurred, if measurable.
De Minimis Rate Used: Y
Rate Explanation: Note 2 - Federal De Minimis Indirect Cost Rate: The City has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The City awarded $804,924.74 from the Community Development Block Grant program to non-profit agencies in 2023. The City also awarded $15,822.81 of US Depart of Justice Violence Against Women grant funds to other municipalities for activities that improve community response to violence against women. The city awarded $126,185.00 of COVID-19 Coronavirus State & Local Fiscal Recovery funding to eligible applicants with innovative ideas and solutions to move Everett’s economy forward as part of the Everett Forward grant program.
Title: Note 7 - Program Costs
Accounting Policies: Note 1 - Basis of Accounting: This schedule is prepared on the same basis of accounting as the City's financial statements. The City uses the full accrual basis of accounting to account for its grants. Under the full accrual basis, revenues are recognized when earned, if measurable, and expenses are recognized when incurred, if measurable.
De Minimis Rate Used: Y
Rate Explanation: Note 2 - Federal De Minimis Indirect Cost Rate: The City has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The amounts shown as current year expenditures represent only the federal portion of the program costs. Actual program costs, including the City's share, may be more than shown. Such expenditures are recognized following, as applicable, either the cost principles in the OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments, or the cost principles contained in Title 2 US Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.