Notes to SEFA
The accompanying schedule of expenditures of federal awards presents the expenditures of all federal awards programs of the City using the modified accrual basis of accounting. Under the modified accrual basis, revenues are recorded when they are both measurable and available. Available means collectible within the current period of soon enough thereafter to be used to pay liabilities of the current period. Expenditures are recorded when the liability is incurred.
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. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the City’s basic financial statements.
The City has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards does not include expenditures of Erie Sewer Authority, Erie Redevelopment Authority, Erie Metropolitan Transit Authority, or Erie Parking Authority. We did not include the aforementioned entities because they engaged other auditors, if applicable, to perform an audit in accordance with the Uniform Guidance.