Notes to SEFA
Accounting Policies: Expenditures reported on the schedules are reported on the accrual or modified accrual
basis of accounting. Such expenditures are recognized following the cost principles
contained in either the Uniform Guidance or the Office of Management and Budget Circular
A-87, Cost Principles for State, Local, and Indian Tribal Governments, wherein certain types
of expenditures are not allowable or are limited as to reimbursement. Negative amounts
shown on the schedules represent adjustments or credits made in the normal course of
business to amounts reported as expenditures in prior years. Pass-through entity identifying
numbers are presented where available.
The underlying accounting records for some grant programs are maintained on the modified
accrual basis of accounting. Under the modified accrual basis, revenues are recorded when
susceptible to accrual, i.e., both measurable and available. Available means collectible
within the current period or soon enough thereafter to be used to pay liabilities of the current
period. Expenditures are recorded when the liability is incurred. The accounting records for
other grant programs are maintained on the accrual basis, i.e., when the revenue has been
earned and the liability is incurred
De Minimis Rate Used: Y
Rate Explanation: The City of Eau Claire has elected to use the 10% de minimis indirect cost rate of the
Uniform Guidance.