Notes to SEFA
Title: Note 1- Basis of Presentation
Accounting Policies: Expenditures reported on the SEFA are reported as federal loan proceeds are disbursed. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance,
wherein certain types of expenditures are not allowable or limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The City has elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform
Guidance.
The accompanying schedule of expenditures of federal awards (SEFA) incudes federal awards
activity of the City of Rogue River (City) under programs of the federal government for the year
ended June 30, 2024. The information presented in this schedule is presented in accordance with
the requirements of Title 2 US Code of Federal Regulations Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
Because the schedule presents only a selected portion of the operations of the City, it is not
intended to and does not present the financial position, change in net position, or cash flows of the
City.
Title: Note 2- Summary of significant accounting policies
Accounting Policies: Expenditures reported on the SEFA are reported as federal loan proceeds are disbursed. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance,
wherein certain types of expenditures are not allowable or limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The City has elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform
Guidance.
Expenditures reported on the SEFA are reported as federal loan proceeds are disbursed. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance,
wherein certain types of expenditures are not allowable or limited as to reimbursement.
Title: Note 3- Indirect Cost rate
Accounting Policies: Expenditures reported on the SEFA are reported as federal loan proceeds are disbursed. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance,
wherein certain types of expenditures are not allowable or limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The City has elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform
Guidance.
The City has elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance
Title: Note 4- Loan programs
Accounting Policies: Expenditures reported on the SEFA are reported as federal loan proceeds are disbursed. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance,
wherein certain types of expenditures are not allowable or limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The City has elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform
Guidance.
The balance of the federal loans as of June 30, 2024 was $1,144,848.