Notes to SEFA
Title: Relationship to Federal Financial Reports
Accounting Policies: The Schedule of Expenditures of Federal Awards presents the activity of all federal award programs. All federal awards received directly from federal agencies as well as federal awards passed through other government agencies are included on the schedule. The Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of accounting which is described in Note 1C to the City's basic financial statements. Expenditures are recognized following the applicable cost principles contained in either Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) or the OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Amounts reported in the accompanying schedule agree with the amounts reported in the related federal financial reports filed and as amended for the fiscal year.