Title: NOTE 1 - REPORTING ENTITY
Accounting Policies: Expenditures reported on the SEFA are reported on the modified accrual basis of accounting. These
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
shown on the SEFA, if any, represent adjustments or credits made in the normal course of business to
amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) presents the activity of all
federal financial assistance programs of the City.
Title: NOTE 2 - BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the SEFA are reported on the modified accrual basis of accounting. These
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
shown on the SEFA, if any, represent adjustments or credits made in the normal course of business to
amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (SEFA) includes the federal grant activity
of the City. The information in the SEFA 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 (the “Uniform Guidance”). Therefore, some amounts presented in the
SEFA may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Title: NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the SEFA are reported on the modified accrual basis of accounting. These
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
shown on the SEFA, if any, represent adjustments or credits made in the normal course of business to
amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reported on the SEFA are reported on the modified accrual basis of accounting. These
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
shown on the SEFA, if any, represent adjustments or credits made in the normal course of business to
amounts reported as expenditures in prior years.
Title: NOTE 4 - INDIRECT COST RATE
Accounting Policies: Expenditures reported on the SEFA are reported on the modified accrual basis of accounting. These
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
shown on the SEFA, if any, represent adjustments or credits made in the normal course of business to
amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The City has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Title: NOTE 5 - PRIOR YEAR EXPENDITURES
Accounting Policies: Expenditures reported on the SEFA are reported on the modified accrual basis of accounting. These
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
shown on the SEFA, if any, represent adjustments or credits made in the normal course of business to
amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The amounts reported on the SEFA for Hazard Mitigation Grant Program (AL 97.039) and Community Block
Grant Programs (AL 14.228) as current year expenditures includes $2,306,616 of expenses incurred in
prior fiscal year(s) that were eligible for grant expenditures as a result of grant agreements executed in the
current year.
Title: NOTE 6 – FEDERAL SURPLUS PROPERTY (NON CASH ASSISTANCE)
Accounting Policies: Expenditures reported on the SEFA are reported on the modified accrual basis of accounting. These
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
shown on the SEFA, if any, represent adjustments or credits made in the normal course of business to
amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The entity received non-cash assistance in the form of donated federal surplus property under the Federal
Surplus Personal Property Program (AL 39.003) administered by the U.S. General Services Administration.
The estimated fair market value of the property at the time of donation is reported as federal expenditures
in the Schedule of Expenditures of Federal Awards (SEFA) for the year ended September 30, 2024. The
organization is considered a subrecipient of federal financial assistance under this program.