Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance,
wherein certain types of expenditures are not allowed or are limited to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The City elected to use the 10% de minimus cost rate as covered by section 200.414 of the
Uniform Guidance.
The accompanying schedule of expenditures of federal and state awards includes federal and
state award activity of the City under programs of the federal and state governments for the year
ended September 30, 2024. The information in this schedule is presented in accordance with the
requirements of Title 2 U.S. Code of Federal Regulation Part 200, Uniform Administrative
Requirements, and Audit Requirements for Federal Awards (Uniform Guidance) and the Texas
Grant Management Standards. Because the schedule presents only a selected portion of the
operations of the City, it is not intended to and does not present the financial position, change in
net assets, or cash flows of the City.
Title: Significant Accounting Policies
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance,
wherein certain types of expenditures are not allowed or are limited to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The City elected to use the 10% de minimus cost rate as covered by section 200.414 of the
Uniform Guidance.
Expenditures reported on the schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance,
wherein certain types of expenditures are not allowed or are limited to reimbursement.
Title: Relationship to Basic Financial Statements
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance,
wherein certain types of expenditures are not allowed or are limited to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The City elected to use the 10% de minimus cost rate as covered by section 200.414 of the
Uniform Guidance.
Federal and state grant revenues are recorded separately on the Statement of Activities under
Revenues, Gains, and Other Support.
Title: Indirect Cost Rate
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance,
wherein certain types of expenditures are not allowed or are limited to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The City elected to use the 10% de minimus cost rate as covered by section 200.414 of the
Uniform Guidance.
The City elected to use the 10% de minimus cost rate as covered by section 200.414 of the
Uniform Guidance.
Title: Subrecipients
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance,
wherein certain types of expenditures are not allowed or are limited to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The City elected to use the 10% de minimus cost rate as covered by section 200.414 of the
Uniform Guidance.
The City did not provide federal or state awards to subrecipients.
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