Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: GAAP
De Minimis Rate Used: N
Rate Explanation: THE CITY ELECTED NOT TO USE THE 10% DE MINIMIS COST AND INDIRECT RATE FOR THE YEAR ENDED SEPTEMBER 30, 2023
The Schedule of Expenditures of Federal Awards includes the federal grant activity of the City of Meridian (the “City”) and is presented on the accrual basis of accounting. The information in this 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 this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
Title: DE MINIMIS COST INDIRECT RATE
Accounting Policies: GAAP
De Minimis Rate Used: N
Rate Explanation: THE CITY ELECTED NOT TO USE THE 10% DE MINIMIS COST AND INDIRECT RATE FOR THE YEAR ENDED SEPTEMBER 30, 2023
The City elected not to use the 10% de minimis cost and indirect rate for the year ended September 30, 2023.
Title: NON-CASH AWARDS
Accounting Policies: GAAP
De Minimis Rate Used: N
Rate Explanation: THE CITY ELECTED NOT TO USE THE 10% DE MINIMIS COST AND INDIRECT RATE FOR THE YEAR ENDED SEPTEMBER 30, 2023
The City did not receive non-cash federal awards during the year ended September 30, 2023