Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Accrual Basis of Accounting
De Minimis Rate Used: N
Rate Explanation: The City of Scottsboro, Alabama, has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. Amounts reported in the Schedule include no indirect costs.
The accompanying schedule of expenditures of federal awards incldues the federal activity of the City of Scottsboro, Alabama under programs of the federal government for the year ended September 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 Scottsboro, Alabama, it is not intended to and does not present the financial position, changes in net position, or cash flows of the City of Scottsboro, Alabama.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Accrual Basis of Accounting
De Minimis Rate Used: N
Rate Explanation: The City of Scottsboro, Alabama, has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. Amounts reported in the Schedule include no indirect costs.
Expenditures reported in 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: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Accrual Basis of Accounting
De Minimis Rate Used: N
Rate Explanation: The City of Scottsboro, Alabama, has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. Amounts reported in the Schedule include no indirect costs.
In accordance with Uniform Guidance Section 200.502, expenditures for grant programs are included in the Schedule when expense (which will be paid from the grant funds) is incurred (under the accrual basis of accounting) within the period covered by the Schedule (during the year ended September 30, 2024).
Title: INDIRECT COST RATE
Accounting Policies: Accrual Basis of Accounting
De Minimis Rate Used: N
Rate Explanation: The City of Scottsboro, Alabama, has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. Amounts reported in the Schedule include no indirect costs.
The City of Scottsboro, Alabama, has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. Amounts reported in the Schedule include no indirect costs.