Notes to SEFA
This schedule is prepared on the same basis of accounting as the City of Shoreline’s financial statements. The City of Shoreline uses the Generally Accepted Accounting Principles (GAAP) basis of accounting.
The City has elected the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance and the 15 percent de minimis indirect cost rate effective October 1, 2024 for grants awarded on that date or later due to the new Uniform Guidance issued on April 22, 2024. Note however that neither indirect cost rate was applied to any of the City’s federal grants during the year.
The amounts shown as current year expenditures represent only the federal grant portion of the program costs. Entire program costs, including the City of Shoreline’s portion, are more than shown. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.