Notes to SEFA
Title: DEFERRED AWARDS
Accounting Policies: The accompanying schedule of expenditures of federal awards are reported on the cash basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance, Audits of States, Local Governments, and Nonprofit Organizations. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Pass-through entity identifying numbers are presented where applicable.
De Minimis Rate Used: N
Rate Explanation: The City did not elect to use the 10 percent De Minimis rate for indirect costs.
The City recognizes federal grants in excess of program expenditures as deferred awards. Deferred awards utilized as expenses are incurred through performance of the program.