Notes to SEFA
Title: NOTE 1 – REPORTING ENTITY
Accounting Policies: The Schedule includes the federal grant activity of the City and is presented on the accrual basis of
accounting. The information in the Schedule is presented in accordance with the requirements of the
Uniform Guidance 2 CFR §200.
De Minimis Rate Used: Both
Rate Explanation: For fiscal year 2024, either the de minimis indirect cost rate of 10% was utilized or the negotiated indirect
cost rate of 28.48% was utilized, depending on the award conditions.
The accompanying supplementary schedule of expenditures of federal awards (the Schedule) presents the
activity of all federal financial assistance programs of the City of North Las Vegas (the City). The reporting
entity is defined in Note 1 to the basic financial statements. The Schedule includes all federal financial
assistance received directly from federal agencies as well as federal financial assistance passed through
other government agencies.
Title: NOTE 2 – BASIS OF PRESENTATION
Accounting Policies: The Schedule includes the federal grant activity of the City and is presented on the accrual basis of
accounting. The information in the Schedule is presented in accordance with the requirements of the
Uniform Guidance 2 CFR §200.
De Minimis Rate Used: Both
Rate Explanation: For fiscal year 2024, either the de minimis indirect cost rate of 10% was utilized or the negotiated indirect
cost rate of 28.48% was utilized, depending on the award conditions.
The Schedule includes the federal grant activity of the City and is presented on the accrual basis of
accounting. The information in the Schedule is presented in accordance with the requirements of the
Uniform Guidance 2 CFR §200.
Title: NOTE 3 – INDIRECT COST RATE
Accounting Policies: The Schedule includes the federal grant activity of the City and is presented on the accrual basis of
accounting. The information in the Schedule is presented in accordance with the requirements of the
Uniform Guidance 2 CFR §200.
De Minimis Rate Used: Both
Rate Explanation: For fiscal year 2024, either the de minimis indirect cost rate of 10% was utilized or the negotiated indirect
cost rate of 28.48% was utilized, depending on the award conditions.
For fiscal year 2024, either the de minimis indirect cost rate of 10% was utilized or the negotiated indirect
cost rate of 28.48% was utilized, depending on the award conditions.
Title: NOTE 4 – OUTSTANDING LOAN BALANCES
Accounting Policies: The Schedule includes the federal grant activity of the City and is presented on the accrual basis of
accounting. The information in the Schedule is presented in accordance with the requirements of the
Uniform Guidance 2 CFR §200.
De Minimis Rate Used: Both
Rate Explanation: For fiscal year 2024, either the de minimis indirect cost rate of 10% was utilized or the negotiated indirect
cost rate of 28.48% was utilized, depending on the award conditions.
As of June 30, 2024, outstanding loan balances were as follows:
Federal
Assistance
Listing Balance
Number Program Title Payable
66.458 Capitalization Grants for Clean Water State Revolving Funds $ 631,046
66.458 Capitalization Grants for Drinking Water State Revolving Funds 18,304,889
$ 18,935,935
Title: NOTE 5 – RECOGNITION OF PRIOR YEAR EXPENDITURES
Accounting Policies: The Schedule includes the federal grant activity of the City and is presented on the accrual basis of
accounting. The information in the Schedule is presented in accordance with the requirements of the
Uniform Guidance 2 CFR §200.
De Minimis Rate Used: Both
Rate Explanation: For fiscal year 2024, either the de minimis indirect cost rate of 10% was utilized or the negotiated indirect
cost rate of 28.48% was utilized, depending on the award conditions.
The City incurred eligible expenditures in FY 2023 and the Department of Housing and Urban
Development (HUD) approved the expenditures in FY 2024. The City recorded the eligible expenditures
of $51,754 in Assistance Listing Number 14.231 and $129,159 in Assistance Listing Number 14.218 on
this year’s schedule.