Notes to SEFA
Title: Note A ‐ Basis of Presentation
Accounting Policies: Note B ‐ Summary of Significant Accounting Policies
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such 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: Note C ‐ Indirect Costs
City of St. Louis Park, Minnesota did not elect to use the 10% de minimis cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of St. Louis Park, Minnesota for the year ended 12/31/23. The information in this Schedule 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 (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the presentation of, the financial statements.
Title: Note D ‐ Subrecipients
Accounting Policies: Note B ‐ Summary of Significant Accounting Policies
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such 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: Note C ‐ Indirect Costs
City of St. Louis Park, Minnesota did not elect to use the 10% de minimis cost rate as allowed under the Uniform Guidance.
City of St. Louis Park, Minnesota did not pass any federal funds to subrecipients during 2023.