Notes to SEFA
Title: Note 1
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in Uniform Guidance or other
applicable regulatory guidance, wherein certain types of expenditures are not allowable or are limited as
to reimbursement.
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 accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award
activity of the City of Fort Collins (the City) under programs of the federal government for the year ended
December 31, 2022. 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). Because this Schedule presents only a
selected portion of the operations of the City, it is not intended to and does not present the financial
position, changes in net position or cash flows of the City.
Title: Note 2
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in Uniform Guidance or other
applicable regulatory guidance, wherein certain types of expenditures are not allowable or are limited as
to reimbursement.
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.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in Uniform Guidance or other
applicable regulatory guidance, wherein certain types of expenditures are not allowable or are limited as
to reimbursement. Pass-through identifying numbers are presented where available. The City has elected
not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Note 3
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in Uniform Guidance or other
applicable regulatory guidance, wherein certain types of expenditures are not allowable or are limited as
to reimbursement.
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 federal loan program listed subsequently is administered directly by the City, and balances and
transactions relating to these programs are included in City’s basic financial statements. Loans
outstanding at the beginning of the year and loans made during the year are included in the federal
expenditures presented in the Schedule. The balance of loans outstanding at December 31, 2022,
consists of:
Assistance Listing Number 81.041 State Energy Program $681,207
Title: Note 4
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in Uniform Guidance or other
applicable regulatory guidance, wherein certain types of expenditures are not allowable or are limited as
to reimbursement.
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.
This Schedule has been restated due to the identification of additional expenditures under the Highway
Planning and Construction Cluster (ALN 20.205) requiring the program to be considered a major program
and tested as such. Changes from the previously issued Schedule include an increase in federal
expenditures reported under ALN 20.205 Highway Planning and Construction Cluster from $267,565 to
$925,424. In addition, this Schedule has been restated due to identification of expenditures that were
improperly excluded in 2022 and expenditures that were improperly included in 2022 in the Federal
Transit Cluster (ALN 20.500, 20.507, and 20.526). Changes from the previously issued Schedule include
a decrease in expenditures of $5,647,154 reported under ALN 20.507 and 20.526.