Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: The schedule of expenditures of federal awards includes only the current year federal grant activity of the City and is presented on the modified cash basis of accounting. This information is presented in accordance with the requirements of the Uniform Guidance. Amounts presesnted in this schedule as expenditures may differ from amounts presented in, or used in the preparation of, the basic financial statements, although such differences are not material.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The schedule of expenditures of federal awards includes only the current year federal grant activity of the City and is presented on the modified cash basis of accounting. This information is presented in accordance with the requirements of the Uniform Guidance. Amounts presesnted in this schedule as expenditures may differ from amounts presented in, or used in the preparation of, the basic financial statements, although such differences are not material.
Title: INDIRECT COST RATE
Accounting Policies: The schedule of expenditures of federal awards includes only the current year federal grant activity of the City and is presented on the modified cash basis of accounting. This information is presented in accordance with the requirements of the Uniform Guidance. Amounts presesnted in this schedule as expenditures may differ from amounts presented in, or used in the preparation of, the basic financial statements, although such differences are not material.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The City has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.