Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the
City of Georgetown, Kentucky 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, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (Uniform Guidance) . Therefore, some amounts presented in, or used
in the preparation of, the basic financial statements may differ from these numbers.
The City's schedule of expenditures of federal awards (schedule) includes the activity of all federal award
programs administered by the primary government except for the federal activity of Georgetown Municipal
Water and Sewer Service (GMWSS), a blended component unit of the City. GMWSS is excluded from the
schedule and is subject to a separate audit in compliance with the audit requirements of Title 2, U.S. Code
of Federal Regulations, Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements ,
Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The City did not elect to use the 10 percent de minimis cost rate as allowed under the Uniform Guidance.