Notes to SEFA
Accounting Policies: THE ACCOMPANYING SCHEDULE OF FEDERAL AND STATE AWARDS INCLUDES THE FEDERAL AND STATE AWARD ACTIVITY OF THE CITY OF LENOIR UNDER PROGRAMS OF THE FEDERAL AND STATE GOVERNMENTS FOR THE YEAR ENDED JUNE 30, 2024. 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) AND THE STATE SINGLE AUDIT IMPLEMENTATION ACT. BECAUSE THE SCHEDULE PRESENTS ONLY A SELECTED PORTION OF THE OPERATIONS OF CITY OF LENOIR, IT IS NOT INTENDED TO AND DOES NOT PRESENT THE FINANCIAL POSITION, CHANGES IN NET ASSEETS, OR CASH FLOWS OF CITY OF LENOIR.
De Minimis Rate Used: N
Rate Explanation: CITY OF LENOIR HAS ELECTED NOT TO USE THE 10 PERCENT DE MINIMIS INDIRECT COST RATE ALLOWED UNDER THE UNIFORM GUIDANCE.