Notes to SEFA
Title: 1.General
Accounting Policies: The accompanying SEFA is presented using the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: N/A
The accompanying schedule of expenditures of federal awards (SEFA) presents the expenditures of all federal award programs of the City of Oakland, California (City) for the year ended June 30, 2024. All federal awards received directly from federal agencies, as well as federal awards passed through other government agencies, are included in the SEFA. The City’s reporting entity is described in Note I.A. to the City’s basic financial statements. The City’s basic financial statements include the operations of the Port of Oakland (Port), a discretely presented component unit, which expended $46,092,012 of federal awards during the year ended June 30, 2024. The Port’s federal expenditures are not included in the SEFA because such expenditures are audited and reported on separately.
Title: 2.Basis of Accounting
Accounting Policies: The accompanying SEFA is presented using the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: N/A
The accompanying SEFA is presented using the modified accrual basis of accounting. The City did not elect to use the 10% de minimis cost rate as covered in Uniform Guidance Section 200.414 Indirect (F&A) costs.
Title: 3.Relationship to the Financial Statements
Accounting Policies: The accompanying SEFA is presented using the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: N/A
Expenditures of federal awards are reported in the City’s basic financial statements as expenditures in the Federal/State Grant special revenue fund.
Title: 4.California Department of Aging Awards
Accounting Policies: The accompanying SEFA is presented using the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: N/A
The terms and conditions of local agency contracts with the California Department of Aging (CDA) require local agencies to display state-funded expenditures discretely along with the related federal expenditures. CDA grant expenditures that involve federal funding have been presented in the SEFA under Assistance Listing No. 93.778, Medical Assistance Program. For state grants not involving federal funding, the amounts are to be displayed separately. The City did not receive any State grants from the CDA for the year ended June 30, 2024.