Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported in the accompanying Schedule are reported on the modified 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 use the 10% de minimis indirect cost rate.
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal
grant activity of City of Sonora (the "City") under the programs of the federal government for the year
ended June 30, 2024. The information in this Schedule is presented in accordance with the requirements
of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost
Principles and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule
presents only a selected portion of the operations of the City, it is not intended to and does not present
the financial position or changes in net position of the City.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported in the accompanying Schedule are reported on the modified 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 use the 10% de minimis indirect cost rate.
Expenditures reported in the accompanying Schedule are reported on the modified 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.
Title: INDIRECT COST RATE
Accounting Policies: Expenditures reported in the accompanying Schedule are reported on the modified 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 use the 10% de minimis indirect cost rate.
The City did not elect to use the 10% de minimis cost rate.
Title: SUB-RECIPIENT
Accounting Policies: Expenditures reported in the accompanying Schedule are reported on the modified 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 use the 10% de minimis indirect cost rate.
During the year ended June 30, 2024, the City did not provide any federal awards to sub recipients.