Notes to SEFA
The Schedule of Expenditures of Federal Awards presents the activities of federal award programs expended by the City of Brewster, Minnesota. The City's reporting entity is defined in Note 1 of the financial statements.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal loan and grant activity of the City of Brewster under programs of the federal government for the year ended 2025. The information in this Schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the City, it is not intended to and does not present the financial position, changes in financial position, or cash flows of the City.
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Subpart E - Cost Principles, wherein certain types of expenditures are not allowed or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
The City did not pass-through funds to subrecipients.
The City elected not to charge the de minimis indirect cost rate of 15% to federal programs.