Notes to SEFA
Title: Sub-Recipients
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the City of Clovis, and is presented on the 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The organization did not use the 10 percent de minimi indirect cost rate. The de minimis cost rate is not consistently applied to all grants, per grant requirements.
The City did not provide any federal awards to sub-recipients during the year.
Title: Federally Funded Loans
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the City of Clovis, and is presented on the 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The organization did not use the 10 percent de minimi indirect cost rate. The de minimis cost rate is not consistently applied to all grants, per grant requirements.
The City has no federally funded loans or loan guarantee programs as of June 30, 2024.