Notes to SEFA
Title: FEMA/TEMA Expenditures Incurred in Prior Year
Accounting Policies: The Schedule of Expenditures of Federal Awards and State Financial Assistance summarizes the expenditures of the City under programs of the federal and stategovernments for the year ended June 30, 2022. The information in this schedule is presented in accordance with the requirements of Title 2 US Code of FederalRegulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Uniform Guidance). Because the schedulepresents 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, or cash flows ofthe City. Expenditures presented on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principlescontained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The amounts reported for FEMA/TEMA (97.036) include $50,760 incurred in a prior year.