Notes to SEFA
Title: Note 1 - Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported using 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. Pass-through entity identifying numbers are presented where applicable.
De Minimis Rate Used: N
Rate Explanation: The City has elected to not use the 10 percent deminimis indirect cost rate.
The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes all federal grant activity of the City of Beaverton, Oregon (the "City") under 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because this Schedule presents only a selected portion of the operations of the City, it is not intended to and does not present the financial position, changes in net position, or cash flows of the City.
Title: Note 2 - Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported using 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. Pass-through entity identifying numbers are presented where applicable.
De Minimis Rate Used: N
Rate Explanation: The City has elected to not use the 10 percent deminimis indirect cost rate.
Expenditures reported on the Schedule are reported using 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. Pass-through entity identifying numbers are presented where applicable.
Title: Note 3 - Election of De Minimis Indirect Rate
Accounting Policies: Expenditures reported on the Schedule are reported using 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. Pass-through entity identifying numbers are presented where applicable.
De Minimis Rate Used: N
Rate Explanation: The City has elected to not use the 10 percent deminimis indirect cost rate.
The City has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance during the fiscal year ended June 30, 2024.
Title: Note 4 - Loan Program
Accounting Policies: Expenditures reported on the Schedule are reported using 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. Pass-through entity identifying numbers are presented where applicable.
De Minimis Rate Used: N
Rate Explanation: The City has elected to not use the 10 percent deminimis indirect cost rate.
For the WIFIA Loan Program, Federal ALN 66.958, the following reflects the activity during the fiscal year: See the Notes to the SEFA for table. The Schedule of Expenditures of Federal Awards reflects the draws received during the fiscal year ended June 30, 2024 totaling $18,570,876 as the loan balance outstanding from previous years is not subject to continuing compliance requirements.