Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal grant activity of City of Beaufort, South Carolina, (the "City") for the year ended June 30, 2025 and is presented on the modified accrual basis of accounting. The information in the schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principals, and Audit Requirements for Federal Awards. Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
The City chose not to use the 10% de minimus cost rate for the year ended June 30, 2025