Notes to SEFA
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of City of American Falls (the City) under programs of the federal government for the year ended September 30, 2025. The 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). 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, changes in net position of the City.
This schedule was prepared using the modified accrual basis of accounting, which is consistent with the method used in the preparation of the City's financial statements.
The City has not elected to use the 10% de minimis cost rate.