Notes to SEFA
Title: Note A – Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the 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: Y
Rate Explanation: The City utilized the 10% de minimis indirect cost rate during the fiscal year ended September 30, 2024 for the Edward Byrne JAP federal funding as allowed for by the grant program. The de minimis indirect cost rate was not utilized for any of the other grant programs.
The Schedule of Expenditures of Federal Awards has been prepared on the modified accrual basis of accounting. Federal grant revenues are recorded for financial reporting purposes when the City has met the qualifications for the respective grants. Encumbrances for purchase orders and contracts are not recorded as expenditures because the liability has not been incurred for goods received or services rendered; however, these encumbrances (if any) are reserved in the fund balances of the governmental funds. Costs incurred in programs partially funded by Federal grants are applied against grant funds to the extent of revenue available when they properly apply to the grant, except as described below.
Title: Note B – Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the 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: Y
Rate Explanation: The City utilized the 10% de minimis indirect cost rate during the fiscal year ended September 30, 2024 for the Edward Byrne JAP federal funding as allowed for by the grant program. The de minimis indirect cost rate was not utilized for any of the other grant programs.
Expenditures reported on the Schedule are reported on the 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: Note C – Indirect Cost Rate
Accounting Policies: Expenditures reported on the Schedule are reported on the 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: Y
Rate Explanation: The City utilized the 10% de minimis indirect cost rate during the fiscal year ended September 30, 2024 for the Edward Byrne JAP federal funding as allowed for by the grant program. The de minimis indirect cost rate was not utilized for any of the other grant programs.
The City utilized the 10% de minimis indirect cost rate during the fiscal year ended September 30, 2024 for the Edward Byrne JAP federal funding as allowed for by the grant program. The de minimis indirect cost rate was not utilized for any of the other grant programs.