Notes to SEFA
Accounting Policies: NOTE 1. BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards includes the federal grant activity of theCity of Waycross, Georgia (the City), and is presented on the modified accrual basis of accounting.The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code ofFederal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards. Therefore, some amounts presented in the schedule may differ fromamounts presented in, or used in the preparation of, the basic financial statements.NOTE 2. DE MINIMIS INDIRECT COST RATEThe City chose not to use the 10% de minimis cost rate for the year ended June 30, 2022.NOTE 3. NON-CASH AWARDSThe City did not receive non-cash federal awards during the year ended June 30, 2022.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.