Notes to SEFA
Title: Subrecipients
Accounting Policies: Expenditures reported on the schedule are reported on the modified 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: The City of Kingston, New York has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance
The following is a summary of sub-recipient activity for the year ended December 31, 2023:
Assistance Amount
Listing Provided to
Program Title Number Subrecipients
Community Development Block Grants/Entitlement Grants 14.218 $83,055
In addition, the City of Kingston has designated the Kingston Local Development Corporation (KLOC) as its subrecipient for purposes of the RUD 108 Loan program. See KLOC financial statement for details on outstanding 108 loans.
Title: Loans Outstanding
Accounting Policies: Expenditures reported on the schedule are reported on the modified 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: The City of Kingston, New York has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance
The City had the following gross loan receivable balances outstanding at December 31, 2023, which were originally funded with federal awards. Loans made during the year are included in the federal expenditures presented in the schedule:
Program Title
Community Development Block Grant
Assistance Listing Number
14.218
Expenditures for the Year Ended December 31, 2023
$ -
Amount Outstanding December 31, 2023
$ 788.978