Notes to SEFA
Title: Loans
Accounting Policies: The Schedule of Expenditures of Federal Awards (the Schedule) is a supplementary schedule to the basic financial statements.
The Schedule is required by the US Office of Management and Budget (OMB) Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Generally, the City does not charge indirect costs to grants, and therefore, does not use the 10 percent de minimis indirect cost rate.
As of June 30,2024, the City held federally funded loan balances as follows: (Assistance Listing Number 66.468) Capitlization of Drinking Water with Balances of $624,000 and 355,000.