Notes to SEFA
Title: Note 1 – Basis of Accounting
Accounting Policies: This Schedule is prepared on the same basis of accounting as the City’s financial statements. The City uses the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The City has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
This Schedule is prepared on the same basis of accounting as the City’s financial statements. The City uses the accrual basis of accounting.
Title: Note 2 – Federal De Minimis Indirect Cost Rate
Accounting Policies: This Schedule is prepared on the same basis of accounting as the City’s financial statements. The City uses the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The City has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The City has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Note 3 – Program Costs
Accounting Policies: This Schedule is prepared on the same basis of accounting as the City’s financial statements. The City uses the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The City has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The amounts shown as current year expenditures represent only the federal grant portion of the program costs. Entire program costs, including the City portion, are more than shown. Such expenditures are recognized following, as applicable, either the cost principles in the OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Note 4 – Prior Year Expenses Reported
Accounting Policies: This Schedule is prepared on the same basis of accounting as the City’s financial statements. The City uses the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The City has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
ALN 20.205 Highway Planning and Construction Grants LA-10316 includes $103,008 expenditures incurred during 2022 for construction payouts, and LA-7890 includes $336,934 expenditures incurred during 2022 for construction payout and consultant fees