Notes to SEFA
The schedule of expenditures of federal awards included only the current year federal grant activity of the City and is presented on the accrual basis of accounting. This information 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). Amounts presented in this schedule as expenditures may differ from amounts presented in, or used in the presentation of, the basic financial statements, although such differences are not material.
Effective October 1, 2024, the Uniform Guidance increased the default de minimis indirect cost rate from 10% to 15% of modified total direct costs. For the fiscal year ended October 31, 2025, the City had one federal program for which it elected to continue using an indirect cost rate of 10%. No other federal awards of the City use a de minimis indirect cost rate.