Notes to SEFA
Title: Reporting Entity:
Accounting Policies: This accompanying schedule has been prepared on the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The City did not elect to use the 10% de minimis indirect cost rate for fiscal year 2024.
The accompanying schedule of expenditures of federal awards (schedule) presents all activity or expenditure
or all federal award programs of the City of West Wendover, Nevada (City) for the year ended June 30, 2024.
The City’s reporting entity is defined in note 1 of the basic financial statements. All expenditure of federal
awards received directly from federal agencies as well as federal awards passed through other government
agencies are included in the schedule.
Title: Basis of Accounting:
Accounting Policies: This accompanying schedule has been prepared on the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The City did not elect to use the 10% de minimis indirect cost rate for fiscal year 2024.
This accompanying schedule has been prepared on the modified accrual basis of accounting. The information
in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations
Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards
(Uniform Guidance).
Title: Relationship to the Basic Financial Statements:
Accounting Policies: This accompanying schedule has been prepared on the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The City did not elect to use the 10% de minimis indirect cost rate for fiscal year 2024.
Please see table on page 102 of financial statement packet
Title: Indirect Cost Rate:
Accounting Policies: This accompanying schedule has been prepared on the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The City did not elect to use the 10% de minimis indirect cost rate for fiscal year 2024.
The City did not elect to use the 10% de minimis indirect cost rate for fiscal year 2024.
Title: Federal Loans and Loan Guarantee Programs Outstanding:
Accounting Policies: This accompanying schedule has been prepared on the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The City did not elect to use the 10% de minimis indirect cost rate for fiscal year 2024.
The City has federal loans under United States Department of Agriculture assistance listing number
#10.766 Community and Facilities Loans and Grants program, which have continuing compliance
requirements and are included in the schedule of federal awards. The loan balances as of June 30, 2024
for the loans included in the schedule of federal expenditures for the current year were as follows:
City of West Wendover, NV Consolidated Tax Revenue Bond – Downtown Phase I - $2,414,400
City of West Wendover, NV Consolidated Tax Revenue Bond – Downtown Phase II - $2,000,000
City of West Wendover, NV Consolidated Tax Revenue Bond – Fire Station Project - $ 701,669
City of West Wendover, NV Sales Tax Revenue Bonds – City Hall Complex $3,459,795
Title: Subrecipients:
Accounting Policies: This accompanying schedule has been prepared on the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The City did not elect to use the 10% de minimis indirect cost rate for fiscal year 2024.
The City did not have any subrecipients for the fiscal year 2024.