Notes to SEFA
Title: (1) General
Accounting Policies: The accompanying Schedule is presented using the modified accrual basis of accounting, which is described in Note 1 to the City’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The City did not elect to use a 10% de minimis indirect cost rate allowed under section 2 CFR 200.331(a)(4).
The accompanying Schedule of Expenditures of Federal Awards (Schedule) presents the activity of all federally assisted programs of the City’s Reporting Entity as defined in Note 1 to the City’s basic financial statements. All federal awards received directly from federal agencies, as well as federal awards passed through other government agencies, are included on the Schedule.
Title: (3) Relationship to Financial Statements
Accounting Policies: The accompanying Schedule is presented using the modified accrual basis of accounting, which is described in Note 1 to the City’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The City did not elect to use a 10% de minimis indirect cost rate allowed under section 2 CFR 200.331(a)(4).
Federal expenditures, revenues and capital contributions are reported in the Reporting Entity’s basic financial statements as follows: See notes to SEFA for table/chart.
Title: (4) Subrecipients
Accounting Policies: The accompanying Schedule is presented using the modified accrual basis of accounting, which is described in Note 1 to the City’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The City did not elect to use a 10% de minimis indirect cost rate allowed under section 2 CFR 200.331(a)(4).
The Chesapeake Redevelopment and Housing Authority, Children’s Harbor, ForKids, Boys and Girls Clubs of Southeast VA, Chesapeake Homeless Response Center, Habitat for Humanity, Heron’s Landing, Chesapeake Supportive Housing, and Centerville Baptist Church are the subrecipients for federal awards of $676,555 from the Community Development Block Grant Program. Chesapeake Redevelopment and Housing Authority, The Hampton Roads Planning District Commission (Housing Division), ForKids, Catholic Charities, We Care Homeless Shelter, and Habitat for Humanity are the subrecipients of $1,118,233 from the HOME Investment Program received from the U.S. Department of Housing and Urban Development.