Notes to SEFA
The accompanying schedule of expenditures of federal and state awards includes federal and state award activity of the City under programs of the federal and state governments for the 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 Regulation Part 200, Uniform Administrative Requirements, and Audit Requirements for Federal Awards (Uniform Guidance) and the Texas Grant Management Standards. 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, change in net assets, or cash flows of the City.
Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited to reimbursement.
Federal and state grant revenues are recorded separately on the Statement of Activities under Revenues, Gains, and Other Support.
The City elected to use the 10% de minimus cost rate as covered by section 200.414 of the Uniform Guidance.
The City did not provide federal or state awards to subrecipients. -