Notes to SEFA
Title: Note 1 - Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the City
of Clanton, Alabama (the City) and is presented on the accrual basis of accounting. Under this basis of
accounting, revenues are recognized when earned and expenses are recognized when the related liability
is incurred. The information in this schedule is presented in accordance with the requirements of Title 2
U. S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and
Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The City did not elect to charge a de minimus rate of 10% for all federal awards.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the City
of Clanton, Alabama (the City) and is presented on the accrual basis of accounting. Under this basis of
accounting, revenues are recognized when earned and expenses are recognized when the related liability
is incurred. The information in this schedule is presented in accordance with the requirements of Title 2
U. S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and
Audit Requirements for Federal Awards (Uniform Guidance).
Title: Note 2 - Reporting Entity
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the City
of Clanton, Alabama (the City) and is presented on the accrual basis of accounting. Under this basis of
accounting, revenues are recognized when earned and expenses are recognized when the related liability
is incurred. The information in this schedule is presented in accordance with the requirements of Title 2
U. S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and
Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The City did not elect to charge a de minimus rate of 10% for all federal awards.
The City’s reporting entity is fully described in Note 1 to the financial statements.
Title: Note 3 - Indirect Cost Rates
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the City
of Clanton, Alabama (the City) and is presented on the accrual basis of accounting. Under this basis of
accounting, revenues are recognized when earned and expenses are recognized when the related liability
is incurred. The information in this schedule is presented in accordance with the requirements of Title 2
U. S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and
Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The City did not elect to charge a de minimus rate of 10% for all federal awards.
The City did not elect to charge a de minimus rate of 10% for all federal awards.