Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Accrual basis of accounting
De Minimis Rate Used: N
Rate Explanation: Direct expenditures are charged to the grant programs
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the City of
Eustis and is presented on the accrual basis of accounting. The information in this schedule is presented in
accordance with the requirements of Uniform Guidance. 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: Direct expenditures are charged to the grant programs
The City has elected not to use the 10% de minimums indirect cost rate as allowed under the Uniform Guidance.