Notes to SEFA
Title: Basis of Accounting
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the expenditures of all federal awards programs of the City using the modified accrual basis of accounting. Under the modified accrual basis of accounting, revenues are recorded when they are both measureable and available. Available means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. Expenditures are recorded when a liability is incurred.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards presents the expenditures of all federal awards programs of the City using the modified accrual basis of accounting. Under the modified accrual basis, revenues are recorded when they are both measurable and available. Available means collectible within the current period of soon enough thereafter to be used to pay liabilities of the current period. Expenditures are recorded when the liability is incurred.
Title: Relationship to Basic Financial Statements
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the expenditures of all federal awards programs of the City using the modified accrual basis of accounting. Under the modified accrual basis of accounting, revenues are recorded when they are both measureable and available. Available means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. Expenditures are recorded when a liability is incurred.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
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. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the City’s basic financial statements.
Title: Indirect Cost Rate
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the expenditures of all federal awards programs of the City using the modified accrual basis of accounting. Under the modified accrual basis of accounting, revenues are recorded when they are both measureable and available. Available means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. Expenditures are recorded when a liability is incurred.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The City has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: Reissuance of Report Due to Updated SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the expenditures of all federal awards programs of the City using the modified accrual basis of accounting. Under the modified accrual basis of accounting, revenues are recorded when they are both measureable and available. Available means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. Expenditures are recorded when a liability is incurred.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
This single audit report has been reissued on June 13, 2025 to reflect an update to the Schedule of Expenditures of Federal Awards (SEFA). Specifically, the SEFA was revised to include an additional federal program not originally reported, which meets the threshold for classification as a Type A program under the Uniform Guidance criteria. The original report was issued on December 22, 2022. This update did not impact the audited financial statements but did affect the scope of the Single Audit, including the Schedule of Findings and Questioned Costs, which has been revised accordingly.