Notes to SEFA
Title: Prior Year Expenditures
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented using the same basis of accounting as the fund in which the grant is recorded, generally the accrual or modified accrual basis, as described in Note 1 to the City's financial statements.
De Minimis Rate Used: N
Rate Explanation: The City elected not to use the 10% de minimis cost rate.
The accompanying schedule of expenditures of federal awards includes expenditures incurred prior to fiscal year 2024, which are allowable under the grant terms and conditions.