Notes to SEFA
Title: GENERAL
Accounting Policies: The accompanying SEFA is presented using the modified accrual basis of accounting for grants as described in Note 1 to the Citys basic financial statements. The City did not elect to use the 10% de minimis cost rate as covered in 2 CFR section 200.414 Indirect (F&A) costs.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal Awards (SEFA) presents the activity of the federal award programs of the City of Fremont, California (City). The Citys reporting entity is defined in Note 1 to its basic financial statements. The information in the SEFA 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 (Uniform Guidance). The SEFA includes all federal awards received directly from federal agencies and federal awards passed-through other governmental agencies.
Title: BASIS OF ACCOUNTING
Accounting Policies: The accompanying SEFA is presented using the modified accrual basis of accounting for grants as described in Note 1 to the Citys basic financial statements. The City did not elect to use the 10% de minimis cost rate as covered in 2 CFR section 200.414 Indirect (F&A) costs.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
As a result of the COVID-19 pandemic, many new federal programs have been established and funding has been added to existing federal programs. Expenditures funded from the following acts are denoted by the prefix COVID-19 in the federal program title in the SEFA (as applicable):?Coronavirus Preparedness and Response Supplemental Appropriations Act?Families First Coronavirus Response Act?Coronavirus Aid, Relief, and Economic Security Act (CARES Act)?Coronavirus Response and Relief Supplemental Appropriations Act (CRRSAA)?American Rescue Plan Act (ARP)
Title: RELATIONSHIP TO THE BASIC FINANCIAL STATEMENTS
Accounting Policies: The accompanying SEFA is presented using the modified accrual basis of accounting for grants as described in Note 1 to the Citys basic financial statements. The City did not elect to use the 10% de minimis cost rate as covered in 2 CFR section 200.414 Indirect (F&A) costs.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Expenditures of federal awards are reported in the Citys basic financial statements as expenditures in the governmental funds. Federal award expenditures agree or can be reconciled with the amounts reported in the Citys basic financial statements.
Title: RELATIONSHIP TO FEDERAL FINANCIAL REPORTS
Accounting Policies: The accompanying SEFA is presented using the modified accrual basis of accounting for grants as described in Note 1 to the Citys basic financial statements. The City did not elect to use the 10% de minimis cost rate as covered in 2 CFR section 200.414 Indirect (F&A) costs.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Amounts reported in the SEFA agree to or can be reconciled with the amounts reported in the related federal financial reports.