Notes to SEFA
This schedule was prepared on a modified cash basis of accounting consistent with the preparation of the basic financial statements. Such expenditures are recognized following the cost pronciples contained in the Uniform Guidance, wherein certain types ofs expenditures are not allowable or are limited as to reimbursement. also, there were no awards passed through to subrecipients.
Basis of Presentation-The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the City under programs of the federal government for the year ended June 30, 2024. The information of this Schedule is presented in accordance with the requriements of Title 2, U.S. Code fo Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the City, it is not intended to and does not present the financial posistion, changes in net position, or cash flows of the City.
Indirect Cost Rate-The City has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.