Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such 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.
De Minimis Rate Used: N
Rate Explanation: The City did not use an indirect cost rate when calculating federal expenditures.
The above Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of the City of Milaca
(the City) under programs of the federal government for the year ended December 31, 2024. The information in the 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). Because the
Schedule presents only a select portion of the operations of the City, it is not intended to and does not present the financi al
position or changes in financial position of the City.
Title: Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such 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.
De Minimis Rate Used: N
Rate Explanation: The City did not use an indirect cost rate when calculating federal expenditures.
The City did not pass any federal funds to subrecipients during the year ended December 31, 2024.
Title: Pass-Through Identifier
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such 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.
De Minimis Rate Used: N
Rate Explanation: The City did not use an indirect cost rate when calculating federal expenditures.
The City’s pass-through identifying number is unknown.