Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards and State Financial Assistance (the “Schedule”) includes the grant activity of federal award programs and state financial assistance projects of the City of Cocoa, Florida (the “City”) for the fiscal year ended September 30, 2025. The information in this schedule 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), and Chapter 10.550, Rules of the Auditor General. Because the Schedule presents only a select portion of the activities of the City, it is not intended to, and does not, present the financial position, changes in net position/fund balance or cash flows of the City
The Schedule is presented using the modified accrual basis of accounting for expenditures accounted for in governmental fund types and on the accrual basis of accounting for expenses of the proprietary fund types. Such expenditures /expenses are recognized following cost principles contained in the Uniform Guidance, Cost Principles for State, Local, and Indian Tribal Governments, whereas certain types of expenditures/expenses are not allowable or are limited as to reimbursement.
The City has elected not to use the de minimis indirect cost rate allowed under the Uniform Guidance.