Notes to SEFA
Title: Basis of presentation
Accounting Policies: The accompanying Schedule is presented using the accrual basis of accounting. 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: The City has not elected to use the 10 percent de minimis cost rate allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the Federal award activity of the City of
Riviera Beach, Florida (the City) under programs of the Federal government for the fiscal year ended September 30, 2024.
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 of Federal Awards (Uniform
Guidance). Because the Schedule presents only a selected portion of the operations of the City, it is not intended to and
does not present the financial position, changes in net position, or cashflows of the City.
Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying Schedule is presented using the accrual basis of accounting. 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: The City has not elected to use the 10 percent de minimis cost rate allowed under the Uniform Guidance.
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.
Title: Indirect Cost Rate
Accounting Policies: The accompanying Schedule is presented using the accrual basis of accounting. 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: The City has not elected to use the 10 percent de minimis cost rate allowed under the Uniform Guidance.
The City has not elected to use the 10 percent de minimis cost rate allowed under the Uniform Guidance.
Title: Contigency
Accounting Policies: The accompanying Schedule is presented using the accrual basis of accounting. 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: The City has not elected to use the 10 percent de minimis cost rate allowed under the Uniform Guidance.
The grant revenue amounts received are subject to audit and adjustment. If any expenditures are disallowed by a grantor
agency as a result of such an audit, any claim for reimbursement to the grantor agencies would become a liability of the
City. In the opinion of management, all grant expenditures are in compliance with the terms of the grant agreements and
applicable federal and state laws and regulations.