Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal awards programs of the City for the year ended June 30, 2022. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of the City it is not intended to and does not present the financial position, changes net position, or cash flows of the City. Expenditures reported on the Schedule are reported on the modified accrual basis of accounting, except for subrecipient expenditures, which are recorded on the cash basis. 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. Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of, the financial statements. No federal financial assistance hasbeen provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: The City does not draw for indirect administrative expenses and has not elected to use the 10% de minimus cost rate.