Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the City of Malden under programs of the federal government for the year ended June 30, 2025. The information in this Schedule is presented in accordance with the requirement of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principle, and Audit Requirements for Federal Awards. Because the Schedule presents only a selected portion of the operations of City of Malden, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the City of Malden.
The City of Malden has elected not to use the de minimis indirect cost rate as allowed under the Uniform Guidance. For federal awards issued prior to October 1, 2024, the 10% de minimis indirect cost rate was available. For federal awards issued on or after October 1, 2024, or amended to adopt the revised Uniform Guidance, the 15% de minimis indirect cost rate was available.