Notes to SEFA
Title: Note 1 – Basis of Accounting
Accounting Policies: This Schedule is prepared on the same basis of accounting as the city's financial statements. The city uses the current financial resources measurement focus and the modified accrual basis of accounting for all governmental funds and the economic resources measurement focus and the accrual basis of accounting for the proprietary and internal service funds as well as for the government wide financial statements.
De Minimis Rate Used: N
Rate Explanation: The City has not elected to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
This Schedule is prepared on the same basis of accounting as the city's financial statements. The city uses the current financial resources measurement focus and the modified accrual basis of accounting for all governmental funds and the economic resources measurement focus and the accrual basis of accounting for the proprietary and internal service funds as well as for the government wide financial statements.
Title: Note 2 – Indirect Cost Rate
Accounting Policies: This Schedule is prepared on the same basis of accounting as the city's financial statements. The city uses the current financial resources measurement focus and the modified accrual basis of accounting for all governmental funds and the economic resources measurement focus and the accrual basis of accounting for the proprietary and internal service funds as well as for the government wide financial statements.
De Minimis Rate Used: N
Rate Explanation: The City has not elected to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
The City has not elected to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
Title: Note 3 – Program Costs
Accounting Policies: This Schedule is prepared on the same basis of accounting as the city's financial statements. The city uses the current financial resources measurement focus and the modified accrual basis of accounting for all governmental funds and the economic resources measurement focus and the accrual basis of accounting for the proprietary and internal service funds as well as for the government wide financial statements.
De Minimis Rate Used: N
Rate Explanation: The City has not elected to use the 10-percent de minimis indirect cost rate allowed under 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 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.