Notes to SEFA
Title: Note 3: PRIOR YEAR EXPENDITURES ON THE SEFA
Accounting Policies: Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation
The accompanying schedule of expenditures of federal awards is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of, the basic financial statements. Because the schedule presents only a selected portion of the operations of the City, it is not intended to and does not represent a complete presentation of the federal awards of the City for the year ended September 30, 2023.
De Minimis Rate Used: N
Rate Explanation: Note 2: INDIRECT COST RATE
The Uniform Guidance allows an organization to elect a 10 percent de minimis indirect cost rate. For the year ended September 30, 2023, the City did not elect to use this rate.
The City incurred expenditures of $56,031 for the Drinking Water State Revolving Fund Cluster in prior fiscal years which are reported on the current year schedule of expenditures of federal awards. The City also incurred expenditures of $235,686 for Disaster Grants – Public Assistance (Presidentially Declared Disasters) in prior fiscal years which are reported on the current year schedule of expenditures of federal awards.
Title: Note 4: PRIOR YEAR INCORRECT PROJECT WORKSHEET EXPENDITURES
Accounting Policies: Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation
The accompanying schedule of expenditures of federal awards is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of, the basic financial statements. Because the schedule presents only a selected portion of the operations of the City, it is not intended to and does not represent a complete presentation of the federal awards of the City for the year ended September 30, 2023.
De Minimis Rate Used: N
Rate Explanation: Note 2: INDIRECT COST RATE
The Uniform Guidance allows an organization to elect a 10 percent de minimis indirect cost rate. For the year ended September 30, 2023, the City did not elect to use this rate.
During the year ended September 30, 2023, $99,277 in Federal expenditures reported on prior year SEFAs related to grant DR4564-Hurricane Sally--Z2590 were determined to have been reported under, and reimbursed under, an incorrect Project Worksheet (PW). It was determined that $69,767 of these expenditures were to be reimbursed under another existing and approved PW for the same grant. The difference of $29,510 may be considered by the pass-through entity to be allowable under an existing or new PW in the future.
Title: Note 5: OTHER TYPES OF FINANCIAL ASSISTANCE
Accounting Policies: Note 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation
The accompanying schedule of expenditures of federal awards is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of, the basic financial statements. Because the schedule presents only a selected portion of the operations of the City, it is not intended to and does not represent a complete presentation of the federal awards of the City for the year ended September 30, 2023.
De Minimis Rate Used: N
Rate Explanation: Note 2: INDIRECT COST RATE
The Uniform Guidance allows an organization to elect a 10 percent de minimis indirect cost rate. For the year ended September 30, 2023, the City did not elect to use this rate.
There were no other types of federal financial assistance to be reported, including endowments, insurance in effect, noncash assistance, donated property or free rent.