Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the City and is presented on the modified accrual basis of accounting. The City’s reporting entity is defined in Note 1 to the City’s financial statements. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
Non-monetary assistance is reported in the schedule at the fair market value of the commodities received and disbursed. At June 30, 2025, the food service organization had food commodities totaling $20,703 in inventory.
Revenues from federal awards are reported in the City’s basic financial statements as follows: General Fund $ 21,189 Special Revenue Fund 6,334,498 Schools 1,309,413 Donated commodities 82,010 Total federal awards reported in the basic financial statements $ 7,747,110
The City does not have any subrecipients.
The City does not elect to use a 10% de minimis indirect cost rate allowed under Section 2 CFR 200.331(a)(4).