Notes to SEFA
Accounting Policies: Note 1 - Basis of Presentation and Summary of Significant Accounting PoliciesThe accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity ofthe City under programs of the federal government for the year ended December 31, 2022. The information in thisSchedule 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 for Federal Awards (UniformGuidance). Because the Schedule presents only a selected portion of the operations of the City, it is not intended toand does not present the financial position, changes in net position, or cash flows of the City.Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures arerecognized following the cost principles contained in the Uniform Guidance, wherein certain types of expendituresare not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.