Notes to SEFA
Title: NonCash Assistance
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant expenditures of City of Monmouth and is presented on the accrual basis of accounting for the year ended April 30, 2024. The information in this schedule is presented in accordance with requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). The City has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
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 did not dispense noncash assistance in the the year ended April 30, 2024.
Title: Other Federal Award Information
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant expenditures of City of Monmouth and is presented on the accrual basis of accounting for the year ended April 30, 2024. The information in this schedule is presented in accordance with requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). The City has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
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 did not receive or administer any insurance, loans or loan guarantees during the fiscal year ended April 30, 2024.