Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the City of Santa Maria and is presented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations (CFR), Part 200, Uniform Administrative Requirements, Cost Principals for Federal Awards (Uniform Guidance), therefore, same amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The City did not elect to use the 10% de minimus cost rate.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the City of Santa Maria and is presented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations (CFR), Part 200, Uniform Administrative Requirements, Cost Principals for Federal Awards (Uniform Guidance), therefore, same amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Title: Indirect Cost Rate
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the City of Santa Maria and is presented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations (CFR), Part 200, Uniform Administrative Requirements, Cost Principals for Federal Awards (Uniform Guidance), therefore, same amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The City did not elect to use the 10% de minimus cost rate.
The City did not elect to use the 10% de minimus cost rate.