Notes to SEFA
Title: Note A - Basis of Presentation
Accounting Policies: Governmental fund types primarily account for the City's federal grant activity. Therefore, expenditures in the SEFA are recognized on the modified accrual basis - when they become a demand on current available financial resources. Federal financial assistance provided to a subrecipient is treated as an expenditure when it is paid to the subrecipient. The City's summary of significant accounting policies is presented in Note 1 in the City's basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The City has not elected to use the 10% de minimus cost rate.
This Schedule of Expenditures of Federal Awards (SEFA) includes the Federal grant activity of the City of Sparks, Nevada and is presented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. The City of Sparks, Nevada received federal awards both directly from federal agencies and indirectly through pass-through entities.
Title: Note C - ARPA Sub-Awards From The City To Nevada System of Higher Learning System (UNR)
Accounting Policies: Governmental fund types primarily account for the City's federal grant activity. Therefore, expenditures in the SEFA are recognized on the modified accrual basis - when they become a demand on current available financial resources. Federal financial assistance provided to a subrecipient is treated as an expenditure when it is paid to the subrecipient. The City's summary of significant accounting policies is presented in Note 1 in the City's basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The City has not elected to use the 10% de minimus cost rate.
Coronavirus State & Local Fiscal Recovery Funds sub-award payments from the City of Sparks to the Nevada System of Higher Learning (UNR) for $73,498 (Research and Development Cluster) were recorded in the Sparks Grants and Donations Fund during the year ended June 30, 2023 on an accrual basis; however, they were not included in the year ended June 30, 2023 schedule as payment was not made during the year. They are included in the year ended June 30, 2024 Schedule. Coronavirus State & Local Fiscal Recovery Funds sub-award payments from the City of Sparks to the Nevada System of Higher Learning (UNR) for $14,484 (Research and Development Cluster) were recorded in the Sparks Grants and Donations Fund during the year ended June 30, 2024 on an accrual basis; however, they were not included in the year ended June 30, 2024 schedule as payment was not made during the year.
Title: Note D - CDBG Sub-Awards From The City To Eddy House, Food Bank of Northern Nevada, and Silver State Fair Housing
Accounting Policies: Governmental fund types primarily account for the City's federal grant activity. Therefore, expenditures in the SEFA are recognized on the modified accrual basis - when they become a demand on current available financial resources. Federal financial assistance provided to a subrecipient is treated as an expenditure when it is paid to the subrecipient. The City's summary of significant accounting policies is presented in Note 1 in the City's basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The City has not elected to use the 10% de minimus cost rate.
Community Development Block Grant Fund sub-award payments from the City of Sparks to the Eddy House for $6,641, Food Bank of Northern Nevada for $231,252, and Silver State Fair Housing for $2,824.92 were recorded in the Community Development Block Grant Fund during the year ended June 30, 2023 on an accrual basis; however, they were not included in the June 30, 2023 Schedule as payment was not made during the year. They are both included in the year ended June 30, 2024 Schedule. Community Development Block Grant Fund sub-award payments from the City of Sparks to Opportunity Alliance for $12,843.11, and Silver State Fair Housing for $6,300.06 were recorded in the Community Development Block Grant Fund during the year ended June 30, 2024 on an accrual basis; however, they were not included in the June 30, 2024 Schedule as payment was not made during the year.