Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The accompanying Schedule includes the federal grant activity of the City for the year ended September 30, 2024. Expenditures reported on the Schedule are reported on the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The information in the accompanying schedule of expenditures of federal awards (the Schedule) is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the Schedule may differ from amounts presented in or used in the preparation of the basic financial statements
Title: Expenditures Incurred in Prior Fiscal Year
Accounting Policies: The accompanying Schedule includes the federal grant activity of the City for the year ended September 30, 2024. Expenditures reported on the Schedule are reported on the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Total Federal Assistance Listing No. 21.027 expenditures of $409,926, were incurred in a prior fiscal year.