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: roomfield has not elected to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance, Section 414.
The accompanying schedule of expenditures of federal awards includes the federal award activity of the City and County of Broomfield (the City and County) under programs of the federal government for the year ended December 31, 2024. The information is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of the City and County, it is not intended to and does not present the financial position, changes in net position or fund balance, or cash flows of the City and County.
Title: Summary Of Significant Accounting Policies
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: roomfield has not elected to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance, Section 414.
Expenditures reported in 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. No federal financial assistance has been provided to a subrecipient.
Title: Indirect Cost
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: roomfield has not elected to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance, Section 414.
The City and County has not elected to use the 10% de minimis cost rate.