Notes to SEFA
Title: 1 BASIS OF PRESENTATION
Accounting Policies: NOTE 1 AND 2 ATTACHED
De Minimis Rate Used: N
Rate Explanation: DID NOT USE DEMINIMUS RATE AT ALL
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of the City of St. Louis under programs of the federal government for the year ended June 30, 2024. The information in this Schedule 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 of St. Louis, it is not intended to and does not present the financial position, changes in net position, or cash flows of the City of St. Louis.
Title: 2 SUMMARY OF SIGN ACCNTG POLICIES
Accounting Policies: NOTE 1 AND 2 ATTACHED
De Minimis Rate Used: N
Rate Explanation: DID NOT USE DEMINIMUS RATE AT ALL
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. Negative amounts, if any, shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
Title: 3 LOANS OUTSTANDING
Accounting Policies: NOTE 1 AND 2 ATTACHED
De Minimis Rate Used: N
Rate Explanation: DID NOT USE DEMINIMUS RATE AT ALL
The City of St. Louis had the following loan balances outstanding at June 30, 2024:
Title: 4 RECONCILIATION OF SEFA TO FIN. STATEMENTS
Accounting Policies: NOTE 1 AND 2 ATTACHED
De Minimis Rate Used: N
Rate Explanation: DID NOT USE DEMINIMUS RATE AT ALL
Reported in the City’s financial statements for the year ended June 30, 2024: