Notes to SEFA
This Schedule is prepared on the same basis of accounting as the City of Issaquah’s financial statements. The City of Issaquah uses the modified accrual basis of accounting for governmental funds and accrual basis for proprietary funds.
The City of Issaquah has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance prior to October 1, 2024 or the 15-percent de minimis indirect cost rate allowed under the Uniform Guidance effective October 1, 2024. The City of Issaquah does not have an approved indirect cost rate, and the amount expended includes $0 claimed as an indirect cost recovery.
The amounts shown as current year expenditures represent only the federal grant portion of the program costs. Entire program costs, including the City of Issaquah’s portion, are more than shown. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.