Notes to SEFA
Accounting Policies: Basis of Presentation and Accounting
The accompanying Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of accounting. Under the modified accrual basis of accounting, expenditures are recognized when the
related fund liability is incurred. Federal grant programs which are administered through State agencies (pass-through awards) have been
included in this report. These programs are operated according to Federal regulations promulgated by the Federal agency providing the funding.
The City did not pass any federal awards through to sub-recipients.
De Minimis Rate Used: N
Rate Explanation: The City does not utilize the 10% de minimis indirect cost rate.