Notes to SEFA
Title: Note 1: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the modified accrual basis of accounting which may be different from other information obtained in the City of Claremore, Oklahoma’s financial statements.
De Minimis Rate Used: N
Rate Explanation: None of the programs in the schedule above were eligible for indirect cost reimbursement, so the 10% de minimis cost rate was not used.
This schedule includes the federal grant activity of the City of Claremore, Oklahoma under programs of the federal government for the year ended June 30, 2023. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budget (OMB) Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). Because the schedule presents only a selected portion of the operations of the City of Claremore, Oklahoma, it is not intended to and does not present the financial position, changes in net assets or cash flows of the City of Claremore, Oklahoma.
Title: Note 2: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the modified accrual basis of accounting which may be different from other information obtained in the City of Claremore, Oklahoma’s financial statements.
De Minimis Rate Used: N
Rate Explanation: None of the programs in the schedule above were eligible for indirect cost reimbursement, so the 10% de minimis cost rate was not used.
Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the modified accrual basis of accounting which may be different from other information obtained in the City of Claremore, Oklahoma’s financial statements.
Title: Note 3: De Minimis Indirect Cost Rate
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the modified accrual basis of accounting which may be different from other information obtained in the City of Claremore, Oklahoma’s financial statements.
De Minimis Rate Used: N
Rate Explanation: None of the programs in the schedule above were eligible for indirect cost reimbursement, so the 10% de minimis cost rate was not used.
None of the programs in the schedule above were eligible for indirect cost reimbursement, so the 10% de minimis cost rate was not used.