Notes to SEFA
Title: NOTE B - PROGRAM INCOME
Accounting Policies: NOTE A - BASIS OF PRESENTATION The accompanying Schedule of Expenditures of Federal Awards and State Financial Assistance was prepared to summarize the activity of all federal and state awards of the City of Port St. Lucie, Florida for the year ended September 30, 2022. For purposes of this schedule, federal programs and state financial assistance included all grants entered into directly between the City and agencies and departments of the federal or state government with expenditures during the fiscal year. Federal programs and state financial assistance passed through from other government agencies are also included in the schedule. The schedule also includes reimbursements in the current year if qualifying expenditures were incurred by the City in prior years' but were determined to be qualifying for reimbursement and received in the current year. Additionally, the City did not receive any noncash assistance, federal loans, or federally funded insurance during the year ended September 30, 2022.
De Minimis Rate Used: N
Rate Explanation: NOTE D - INDIRECT COST RATE The City did not elect to utilize the 10% de minimis indirect cost rate.
The federal expenditures presented in the Schedule of Expenditures of Federal Awards and State Financial Assistance for the City of Port St. Lucie, Florida include expenditures funded by program income. The following schedule shows total grant related expenditures and their funding source for HUD grants, as these are the only grants with program income. Program Title CFDA Number Community Development Block Grant (CDBG) 14.218 Federal expenditures funded by program income $ 23,818 Total grant-related expenditures reported on SEFA $ 951,861 Neighborhood Stabilization Program (NSP 1) 14.218 Federal expenditures funded by program income $ 75,933 Total grant-related expenditures reported on SEFA $ 101,886 Neighborhood Stabilization Program (NSP 3) 14.218 Federal expenditures funded by program income $ 16,742 Total grant-related expenditures reported on SEFA $ 89,855
Title: NOTE C - CONTINGENCY
Accounting Policies: NOTE A - BASIS OF PRESENTATION The accompanying Schedule of Expenditures of Federal Awards and State Financial Assistance was prepared to summarize the activity of all federal and state awards of the City of Port St. Lucie, Florida for the year ended September 30, 2022. For purposes of this schedule, federal programs and state financial assistance included all grants entered into directly between the City and agencies and departments of the federal or state government with expenditures during the fiscal year. Federal programs and state financial assistance passed through from other government agencies are also included in the schedule. The schedule also includes reimbursements in the current year if qualifying expenditures were incurred by the City in prior years' but were determined to be qualifying for reimbursement and received in the current year. Additionally, the City did not receive any noncash assistance, federal loans, or federally funded insurance during the year ended September 30, 2022.
De Minimis Rate Used: N
Rate Explanation: NOTE D - INDIRECT COST RATE The City did not elect to utilize the 10% de minimis indirect cost rate.
The grant revenue amounts received are subject to audit and adjustment. If any expenditures are disallowed by a grantor agency as a result of such audit, any claim for reimbursement to the grantor agencies would become a liability of the City. In the opinion of management, all grant expenditures are in compliance with the terms of the grant agreements and applicable federal and state laws and regulations.