Notes to SEFA
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of Lafayette City-Parish Consolidated Government (Government) under programs of the federal government for the year ended October 31, 2025. The information in this 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). Because the Schedule presents only a selected portion of the operations of Government, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Government.
Expenditures reported on the Schedule are reported in accordance with accounting principles generally accepted in the United States of America as applied to governmental units, which is described in Note 1 to the Government’s basic financial statements for the year ended October 31, 2025. Such expenditures are recognized following the cost principle contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The Government has elected not to use the 15 percent de minimis indirect cost rate allowed under the Uniform Guidance.