Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Accrual basis of accounting
De Minimis Rate Used: N
Rate Explanation: The City charges direct costs to the program
The accompanying schedule of expenditures of federal awards and state financial assistance includes the federal and state grant activity of the City of
Ocala, Florida and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements
of Federal OMB Uniform Guidance, Audits of States, Local Governments, and Non-Profit Organizations and Chapter 10.550, Rules of the Auditor
General. Therefore some amounts presented in this schedule may differ from amounts presented in, or used in, the preparation of the financial
statements.
Title: Indirect Cost Rate
Accounting Policies: Accrual basis of accounting
De Minimis Rate Used: N
Rate Explanation: The City charges direct costs to the program
The City of Ocala did not elect to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: Additional Information
Accounting Policies: Accrual basis of accounting
De Minimis Rate Used: N
Rate Explanation: The City charges direct costs to the program
Assistance Listing Number 97.036 Disaster Grants. Public Assistance (Presidentially Declared Disasters) include $498,676 in expenditures that
occurred prior to October 1, 2023.