Notes to SEFA
Title: NOTE 1 - REPORTING ENTITY
Accounting Policies: Accrual accounting
De Minimis Rate Used: N
Rate Explanation: Did not use
For reporting purposes, the Schedule of Expenditures of Federal Awards includes only the activities of the primary government of the City of Cocoa, Florida.
Title: NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Accrual accounting
De Minimis Rate Used: N
Rate Explanation: Did not use
The Schedule of Expenditures of Federal Awards is prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America as applicable to governmental organizations.
Title: NOTE 3 - INDIRECT COST RATE
Accounting Policies: Accrual accounting
De Minimis Rate Used: N
Rate Explanation: Did not use
The City has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.