Notes to SEFA
The SEFA is designed to conform with generally accepted accounting principles as applicable to governmental units. The information in this schedule is presented in accordance with the requirements of Title US Code of Federal Regulations, Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements of Federal Awards.
The accompanying schedule of federal awards includes the federal award activity of the City and is presented using the same basis of accounting as the fund in which the grant is recorded, generally the accrual or modified accrual basis of accounting.
The City elected not to use the up to 15% de minimis indirect cost rate.
Grant monies received and disbursed by the City are for specific purposes and are subject to review by grantor agencies. Such audits may result in requests for reimbursements due to disallowance of expenditures. Based upon prior experience, the City does no believe that such disallowances, if any, would have a material effect on the financial position of the City.