Notes to SEFA
Title: Loans Receivable
Accounting Policies: Basis of presentation - The accompanying schedule of expenditures of federal
awards includes the federal grant activity of the City of Auburn, Alabama and is
presented on the modified accrual basis of accounting. The information in this
schedule is presented in accordance with the requirements of the Uniform
Guidance. Therefore, some amounts presented in this schedule may differ from
amounts presented in, or used in the preparation of, the basic financial
statements.
De Minimis Rate Used: N
Rate Explanation: The City of Auburn, Alabama has elected not to use the 10%
de minimis indirect cost rate allowed under the Uniform Guidance. The City
uses the direct allocation method for joint administrative costs. Such costs are
prorated individually and applied as direct costs to each award in accordance
with approved program budgets.
The City of Auburn, Alabama administers Housing Rehabilitation Loan and
Affordable Housing Loan programs (Assistance No. 14.218) and a Section 108
Loan program (Assistance No. 14.248) funded by the U.S. Department of
Housing and Urban Development.
Title: Subrecipients
Accounting Policies: Basis of presentation - The accompanying schedule of expenditures of federal
awards includes the federal grant activity of the City of Auburn, Alabama and is
presented on the modified accrual basis of accounting. The information in this
schedule is presented in accordance with the requirements of the Uniform
Guidance. Therefore, some amounts presented in this schedule may differ from
amounts presented in, or used in the preparation of, the basic financial
statements.
De Minimis Rate Used: N
Rate Explanation: The City of Auburn, Alabama has elected not to use the 10%
de minimis indirect cost rate allowed under the Uniform Guidance. The City
uses the direct allocation method for joint administrative costs. Such costs are
prorated individually and applied as direct costs to each award in accordance
with approved program budgets.
The City of Auburn, Alabama provided federal awards to subrecipients as follows: Community Development Block Grants/Entitlement Grants; Federal Assistance Number 14.218; Amount provided - $147,597. COVID-19 Community Development Block Grants/Entitlement Grants; Federal Assistance Number 14.218; Amount provided - $13,153. Community Development Block Grants/State's Porgram; Federal Assistance Number 14.228; Amount provided - $259.465. Economic Development Initiative, Community Project Funding, and Miscellaneous Grants; Federal Assistance Number 14.251. Amount provided - $1,199,000.