Notes to SEFA
This schedule was prepared on an accrual (GAAP) basis of accounting consistent with the prepartation of the basic financial statements. Such expenditures are recognized following the cost princoples contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Also, there were no awards passed through to sub-recipients.
Basis of Presentation-The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the City under programs of the federal government for the year ended June 30, 2025. The informaiton in this Schedule is presented in accordance witht he requirements of Title 2, U.S. Code of Federal Regulations Part 200, Unfirm Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the poperations of the City it is not intended to and does not present the financial position, changes in net position, or cash flows of the City.
Ndirect Cost Rate- The City has elected not to use the 10% de minimus indirect cost rate lowed under the Uniform Guidance.