Notes to SEFA
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 BARS for cash basis Local Government accounting.
De Minimis Rate Used: N
Rate Explanation: Note 2 - Federal De Minimis Indirect Cost Rate: The city has not 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 BARS for cash basis Local Government accounting.
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 BARS for cash basis Local Government accounting.
De Minimis Rate Used: N
Rate Explanation: Note 2 - Federal De Minimis Indirect Cost Rate: The city has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The city has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Note 3 - 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 BARS for cash basis Local Government accounting.
De Minimis Rate Used: N
Rate Explanation: Note 2 - Federal De Minimis Indirect Cost Rate: The city has not 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 grant portion of the program costs. Entire program costs, including the city’s portion, are 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 U.S. 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.
Title: Note 4 - Other Disclosures
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 BARS for cash basis Local Government accounting.
De Minimis Rate Used: N
Rate Explanation: Note 2 - Federal De Minimis Indirect Cost Rate: The city has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
During 2022 and 2023 FEMA amended the City’s Disaster contract increasing the federal grant by 15%. Therefore, amounts shown as current year expenditures include $6,273.21 from 2020 and 2021.
On September 21, 2023 the EPA awarded the City a $2,000,000 federal grant. The grant allowed for expenditures of the wastewater treatment plant expansion that started in the prior year. Therefore, amounts shown as current year expenditures include $201,572.76 from 2022.