Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) presents the activity of all federal financial assistance programs of the City.
The Schedule 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”). Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. These expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule, if any, represent, adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
The City has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures in the amount of $550,620 related to the federal grant program, Disaster Recovery-Public Assistance, Assistance Listing 97.036 and $590,939 related to the federal grant program, Outdoor Recreation Acquisition, Development and Planning, Assistance Listing 15.916 were incurred in the prior year, however, approval was not provided by the granting agency until fiscal year 2025. Accordingly, these expenditures have been listed on the fiscal year 2025 SEFA.