Notes to SEFA
Title: Note 1
Accounting Policies: Basis of Presentation - The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the Lyons Fire District and is presented on the modified accrual basis of accounting. The information in the schedule is presented in accordance with the requirements of Uniform Guidance, Audits of States, Local Government and Non-Profit Organizations. Therefore, some amounts presented in the schedule may differ from amounts presented in or used in the preparation of the basic financial statements.
Basis of Accounting - The basis of accounting varies by Federal program consistent with underlying regulations pertaining to each program. The amounts reported as Federal expenditures generally were obtained from the appropriate Federal financial reports for applicable program and periods. The amounts reported in the Federal financial reports are prepared from records maintained for each program, which are periodically reconciled with the Fire District’s financial reporting system.
De Minimis Rate Used: N
Rate Explanation: The Fire District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance in the current year.
Basis of Presentation - The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the Lyons Fire District and is presented on the modified accrual basis of accounting. The information in the schedule is presented in accordance with the requirements of Uniform Guidance, Audits of States, Local Government and Non-Profit Organizations. Therefore, some amounts presented in the schedule may differ from amounts presented in or used in the preparation of the basic financial statements.
Basis of Accounting - The basis of accounting varies by Federal program consistent with underlying regulations pertaining to each program. The amounts reported as Federal expenditures generally were obtained from the appropriate Federal financial reports for applicable program and periods. The amounts reported in the Federal financial reports are prepared from records maintained for each program, which are periodically reconciled with the Fire District’s financial reporting system.
Title: Note 2 - Indirect Cost Rate
Accounting Policies: Basis of Presentation - The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the Lyons Fire District and is presented on the modified accrual basis of accounting. The information in the schedule is presented in accordance with the requirements of Uniform Guidance, Audits of States, Local Government and Non-Profit Organizations. Therefore, some amounts presented in the schedule may differ from amounts presented in or used in the preparation of the basic financial statements.
Basis of Accounting - The basis of accounting varies by Federal program consistent with underlying regulations pertaining to each program. The amounts reported as Federal expenditures generally were obtained from the appropriate Federal financial reports for applicable program and periods. The amounts reported in the Federal financial reports are prepared from records maintained for each program, which are periodically reconciled with the Fire District’s financial reporting system.
De Minimis Rate Used: N
Rate Explanation: The Fire District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance in the current year.
The Fire District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance in the current year.
Title: Note 3 - Rural Development Community Facilities Loans
Accounting Policies: Basis of Presentation - The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the Lyons Fire District and is presented on the modified accrual basis of accounting. The information in the schedule is presented in accordance with the requirements of Uniform Guidance, Audits of States, Local Government and Non-Profit Organizations. Therefore, some amounts presented in the schedule may differ from amounts presented in or used in the preparation of the basic financial statements.
Basis of Accounting - The basis of accounting varies by Federal program consistent with underlying regulations pertaining to each program. The amounts reported as Federal expenditures generally were obtained from the appropriate Federal financial reports for applicable program and periods. The amounts reported in the Federal financial reports are prepared from records maintained for each program, which are periodically reconciled with the Fire District’s financial reporting system.
De Minimis Rate Used: N
Rate Explanation: The Fire District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance in the current year.
During the year ended December 31, 2022, Lyons Fire District received loan proceeds from the United Statements Department of Agriculture for the purchase of fire trucks. The balance outstanding on the loan as of December 31, 2024 totaled $810,000 which is represented on the Schedule of Expenditures of Federal Awards. As this loan has continuing compliance requirement from the USDA, it is included in the total federal awards expended.