Title: NOTE 1 – GENERAL
Accounting Policies: NOTE 1 – GENERAL
The accompanying Schedule of Expenditures of Federal Awards (SEFA) presents the activity of all federal award programs
of the City of Corcoran, California (the City). Federal awards received directly from federal agencies, as well as federal
awards passed through other government agencies are included in the schedule. The information in this SEFA is
presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform
Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
NOTE 2 – BASIS OF ACCOUNTING
The accompanying SEFA is presented using the accrual basis of accounting, which is described in Note 1 of the City’s basic
financial statements.
De Minimis Rate Used: N
Rate Explanation: NOTE 4 – INDIRECT COST RATE
The City has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (SEFA) presents the activity of all federal award programs
of the City of Corcoran, California (the City). Federal awards received directly from federal agencies, as well as federal
awards passed through other government agencies are included in the schedule. The information in this SEFA is
presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform
Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
Title: NOTE 2 – BASIS OF ACCOUNTING
Accounting Policies: NOTE 1 – GENERAL
The accompanying Schedule of Expenditures of Federal Awards (SEFA) presents the activity of all federal award programs
of the City of Corcoran, California (the City). Federal awards received directly from federal agencies, as well as federal
awards passed through other government agencies are included in the schedule. The information in this SEFA is
presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform
Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
NOTE 2 – BASIS OF ACCOUNTING
The accompanying SEFA is presented using the accrual basis of accounting, which is described in Note 1 of the City’s basic
financial statements.
De Minimis Rate Used: N
Rate Explanation: NOTE 4 – INDIRECT COST RATE
The City has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying SEFA is presented using the accrual basis of accounting, which is described in Note 1 of the City’s basic
financial statements.
Title: NOTE 3 – RELATIONSHIP TO THE BASIC FINANCIAL STATEMENTS
Accounting Policies: NOTE 1 – GENERAL
The accompanying Schedule of Expenditures of Federal Awards (SEFA) presents the activity of all federal award programs
of the City of Corcoran, California (the City). Federal awards received directly from federal agencies, as well as federal
awards passed through other government agencies are included in the schedule. The information in this SEFA is
presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform
Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
NOTE 2 – BASIS OF ACCOUNTING
The accompanying SEFA is presented using the accrual basis of accounting, which is described in Note 1 of the City’s basic
financial statements.
De Minimis Rate Used: N
Rate Explanation: NOTE 4 – INDIRECT COST RATE
The City has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Federal award expenditures agree or can be reconciled with the amounts reported in the City’s basic financial statements.
Title: NOTE 4 – INDIRECT COST RATE
Accounting Policies: NOTE 1 – GENERAL
The accompanying Schedule of Expenditures of Federal Awards (SEFA) presents the activity of all federal award programs
of the City of Corcoran, California (the City). Federal awards received directly from federal agencies, as well as federal
awards passed through other government agencies are included in the schedule. The information in this SEFA is
presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform
Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
NOTE 2 – BASIS OF ACCOUNTING
The accompanying SEFA is presented using the accrual basis of accounting, which is described in Note 1 of the City’s basic
financial statements.
De Minimis Rate Used: N
Rate Explanation: NOTE 4 – INDIRECT COST RATE
The City has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The City has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.