Notes to SEFA
Title: Note 1: Basis of Presentation
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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The City did not elect to use the 10 percent de minimis cost rate as allow ed under the Uniform Guidance
The accompanying schedule of expenditures of federal aw ards includes the federal grant activity of the City and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance w ith the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Aw ards (Uniform Guidance). Therefore, some amounts presented in, or used in the preparation of, the basic financial statements may differ from these numbers
Title: Note 2: Indirect Cost Rates
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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The City did not elect to use the 10 percent de minimis cost rate as allow ed under the Uniform Guidance
The City did not elect to use the 10 percent de minimis cost rate as allow ed under the Uniform Guidance.
Title: Note 3: Subrecipients
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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The City did not elect to use the 10 percent de minimis cost rate as allow ed under the Uniform Guidance
The City did not pass through any funds to subrecipients
Title: Note 4: Contingencies
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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The City did not elect to use the 10 percent de minimis cost rate as allow ed under the Uniform Guidance
The aw ard revenues received and expended are subject to audit and adjustment. If any expenditures are disallow ed by the grantor as a result of such an audit, any claim for reimbursement to the grantor w ould become a liability of the City. In the opinion of management, all grant expenditures are in compliance w ith the terms of the grant agreements and applicable federal law s and regulations.