Notes to SEFA
Title: NOTE 1: BASIS OF ACCOUNTING
Accounting Policies: Basis of accounting (accrual), and no de minimis indirect cost rate used
De Minimis Rate Used: N
Rate Explanation: No indirect costs.
The accompanying schedule of expenditures of federal awards includes the federal grant activity
of Benbrook, Texas and is presented on the accrual basis of accounting. The information in this
schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal
Regulations (CFR) Part 200, Cost Principles for Federal Awards (the Uniform Guidance).
Therefore, some amounts presented in this schedule may differ from amounts presented in or used
in the preparation of the basic financial statements.
Title: NOTE 2: INDIRECT COST RATE
Accounting Policies: Basis of accounting (accrual), and no de minimis indirect cost rate used
De Minimis Rate Used: N
Rate Explanation: No indirect costs.
The City has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform
Guidance.