Notes to SEFA
Title: Note 1 - Basis of Presentation
Accounting Policies: The Schedule of Expenditures of Federal and State Awards is prepared on the modified accrual basis of accounting. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement. Powell Bill expenditures as reported above represent eligible expenditures reported to the North Carolina Department of Transportation for the fiscal year ending June 30, 2022. The City is required to report annually to the North Carolina Department of Transportation on the accumulated unexpended Powell Bill funds. Unexpended Powell Bill funds are accounted for and maintained within various City funds. The total unexpended balance on-hand at June 30, 2022 is $-0-. Local dollars represent City of Raleigh matching as well as awards from local governments. (1) Where allowed by grant agreement, prior year expenditures that have not been previously tested may be included in the Schedule of Awards at June 30, 2022. Generally, this occurs when grants are awarded after the related project or program has started incurring expenses and retroactive reimbursement is allowed per the funding agreement or when corrections are made due to previous year(s) omissions. (2) Negative current year expenditures represent adjustments to previously reported balances for grant projects completed during FY 2022, awards newly executed or amended, or scope changes identified in FY 2022, which adjusted prior year anticipated allocations between federal, state, and local components. (3) Projects grouped under a "Supergrant" award, FTA Multi-Source Flex and Formula Funding to include Section 5307 and LAPP funding, but are bifurcated in schedule above for project & scope tracking. Each project line lists the unique grant number to associate back to the FTA Award identification. Cumulative fiscal activities reported below. (4) See Notes to the SEFSA for Chart/Table.
De Minimis Rate Used: N
Rate Explanation: The City of Raleigh has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal and State awards (SEFSA) includes the Federal and State grant activity of the City of Raleigh under the programs of the federal government and the State of North Carolina for the year ended June 30, 2022. The information in this SEFSA is presented in accordance with the requirements of Title 2 US Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards and the State Single Audit Implementation Act. Because the Schedule presents only a selected portion of the operations of the City of Raleigh, it is not intended to present the financial position, changes in net assets or cash flows of the City of Raleigh.
Title: Note 3 - Loan Balances
Accounting Policies: The Schedule of Expenditures of Federal and State Awards is prepared on the modified accrual basis of accounting. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement. Powell Bill expenditures as reported above represent eligible expenditures reported to the North Carolina Department of Transportation for the fiscal year ending June 30, 2022. The City is required to report annually to the North Carolina Department of Transportation on the accumulated unexpended Powell Bill funds. Unexpended Powell Bill funds are accounted for and maintained within various City funds. The total unexpended balance on-hand at June 30, 2022 is $-0-. Local dollars represent City of Raleigh matching as well as awards from local governments. (1) Where allowed by grant agreement, prior year expenditures that have not been previously tested may be included in the Schedule of Awards at June 30, 2022. Generally, this occurs when grants are awarded after the related project or program has started incurring expenses and retroactive reimbursement is allowed per the funding agreement or when corrections are made due to previous year(s) omissions. (2) Negative current year expenditures represent adjustments to previously reported balances for grant projects completed during FY 2022, awards newly executed or amended, or scope changes identified in FY 2022, which adjusted prior year anticipated allocations between federal, state, and local components. (3) Projects grouped under a "Supergrant" award, FTA Multi-Source Flex and Formula Funding to include Section 5307 and LAPP funding, but are bifurcated in schedule above for project & scope tracking. Each project line lists the unique grant number to associate back to the FTA Award identification. Cumulative fiscal activities reported below. (4) See Notes to the SEFSA for Chart/Table.
De Minimis Rate Used: N
Rate Explanation: The City of Raleigh has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The City of Raleigh had the following loan balances outstanding at June 30, 2022 for which the grantor/pass-through grantor has still imposed continuing compliance requirements. The loan balance outstanding is included in the federal expenditures presented in the schedule. For each program, the outstanding loan balance may differ from expenditures presented in the schedule above due to timing of cash receipts. See Notes to the SEFSA for Chart/Table.