Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures in the accompanying Schedule of Expenditures of Federal Awards are reported on the accrual basis of accounting. The accrual basis of accounting is described in Note 1 of the financial statements. Cost reimbursement federal loans and grants are considered to be earned to the extent of expenditures made under the provisions of the grant.
The format for the Schedule of Expenditures of Federal Awards has been prescribed by the Uniform Guidance. Such format includes revenue and expenditures recognized in the City's financial statements. City of Coleman, Texas did not elect to use the 10 percent de minimis indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: The County has not elected to use the 10 percent de minimis indirect cost rate as allowed. There are no subrecipients of the federal or state awards.
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all applicable federal awards of the City of Coleman, Texas for the year ended September 30, 2024. The City's reporting entity is defined in Note 1 of the financial statements. Federal awards received directly from federal agencies, as well as federal awards passed through other governmental agencies are included on the Schedule of Expenditures of Federal Awards. The information 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 change in net position of the City.
Title: SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures in the accompanying Schedule of Expenditures of Federal Awards are reported on the accrual basis of accounting. The accrual basis of accounting is described in Note 1 of the financial statements. Cost reimbursement federal loans and grants are considered to be earned to the extent of expenditures made under the provisions of the grant.
The format for the Schedule of Expenditures of Federal Awards has been prescribed by the Uniform Guidance. Such format includes revenue and expenditures recognized in the City's financial statements. City of Coleman, Texas did not elect to use the 10 percent de minimis indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: The County has not elected to use the 10 percent de minimis indirect cost rate as allowed. There are no subrecipients of the federal or state awards.
Expenditures in the accompanying Schedule of Expenditures of Federal Awards are reported on the accrual basis of accounting. The accrual basis of accounting is described in Note 1 of the financial statements. Cost reimbursement federal loans and grants are considered to be earned to the extent of expenditures made under the provisions of the grant.
The format for the Schedule of Expenditures of Federal Awards has been prescribed by the Uniform Guidance. Such format includes revenue and expenditures recognized in the City's financial statements. City of Coleman, Texas did not elect to use the 10 percent de minimis indirect cost rate.
Title: REVENUE RECONCILIATION
Accounting Policies: Expenditures in the accompanying Schedule of Expenditures of Federal Awards are reported on the accrual basis of accounting. The accrual basis of accounting is described in Note 1 of the financial statements. Cost reimbursement federal loans and grants are considered to be earned to the extent of expenditures made under the provisions of the grant.
The format for the Schedule of Expenditures of Federal Awards has been prescribed by the Uniform Guidance. Such format includes revenue and expenditures recognized in the City's financial statements. City of Coleman, Texas did not elect to use the 10 percent de minimis indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: The County has not elected to use the 10 percent de minimis indirect cost rate as allowed. There are no subrecipients of the federal or state awards.
Reconciliation of intergovernmental revenue and total federal awards