Notes to SEFA
Title: Outstanding Loan Balances
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented on the modified accrual basisof accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S.Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule maydiffer from amounts presented in, or used in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
At June 30, 2022, the City had no outstanding loan balances requiring continuing disclosure.
Title: Subrecipients
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented on the modified accrual basisof accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S.Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule maydiffer from amounts presented in, or used in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The City provided the following amounts to subrecipients during fiscal year 2022:Department of Housing and Urban Development Community Development Block Grant Program 14.218 $ 123,101.