Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards includes the federal award activity of The City of Rexburg, Idaho under programs of the federal government for the year ended September 30, 2025. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of 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 position or change in net assets of the City.
The accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain expenditures are not allowed or are limited as to reimbursement.
There was no nonmonetary assistance received by the City in the current fiscal year.
The City did not use the 10% de minimis indirect cost rate.
The City had no subrecipients or subrecipient expenditures.