Notes to SEFA
Title: NOTE 1 BASIS OF PRESENTATION / ACCOUNTING
Accounting Policies: Governmental fund types account for the City of Washburn’s federal grant activity. The City of Washburn’s summary of significant accounting policies is presented in Note 1 in the City of Washburn’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Airport does not draw for indirect administrative expenses and has not elected to use the 10% de minimis cost rate
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the City of Washburn under programs of the federal government for the years ended December 31, 2022. The information in the schedule is presented in accordance with the requirements of the Office of Management and Budget (OMB) Uniform Guidance. Because the schedule presents only a selected portion of the operations of the City of Washburn, it is not intended to and does not present the financial position or changes in net position of the Airport. Expenditures represent only the federally funded portions of the program. City of Washburn records should be consulted to determine amounts expended or matched from non-federal sources.
Title: NOTE 3 PASS-THROUGH GRANT NUMBER
Accounting Policies: Governmental fund types account for the City of Washburn’s federal grant activity. The City of Washburn’s summary of significant accounting policies is presented in Note 1 in the City of Washburn’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Airport does not draw for indirect administrative expenses and has not elected to use the 10% de minimis cost rate
For federal programs marked “N/A”, the Cityt was unable to obtain a pass-through grant number.