Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the modified accrual basis of accounting as used in the governmental financialstatements. Such expenditures are recognized following, as applicable, either the cost principles in Office of Managementand Budget Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in Title 2 U.S.Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for FederalAward, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifyingnumbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.The City did not utilize an indirect cost rate as allowed under Uniform Guidance.
CAPITALIZATION GRANTS FOR DRINKING WATER STATE REVOLVING FUNDS (66.468) - Balances outstanding at the end of the audit period were 74987. CAPITALIZATION GRANTS FOR DRINKING WATER STATE REVOLVING FUNDS (66.468) - Balances outstanding at the end of the audit period were 100000.
Title: NOTE 4. FOOTNOTES
Accounting Policies: NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the modified accrual basis of accounting as used in the governmental financialstatements. Such expenditures are recognized following, as applicable, either the cost principles in Office of Managementand Budget Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in Title 2 U.S.Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for FederalAward, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifyingnumbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.The City did not utilize an indirect cost rate as allowed under Uniform Guidance.
Fn1 No separate funds or accounts maintained; the City assumes first in first out for program money.Fn2 The value of commodities (revenues, expenses or inventory) are not displayed in the basic financial statements.N/A Not applicable/available.
Title: NOTE 1. BASIS OF PRESENTATION
Accounting Policies: NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the modified accrual basis of accounting as used in the governmental financialstatements. Such expenditures are recognized following, as applicable, either the cost principles in Office of Managementand Budget Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in Title 2 U.S.Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for FederalAward, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifyingnumbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.The City did not utilize an indirect cost rate as allowed under Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal grant activity of City of EastHelena (City) under programs of the federal government for the fiscal year ended June 30, 2022. The information in this Scheduleis presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedulepresents only a selected portion of the operations of the City, it is not intended to and does not present the financial position,changes in net position or cash flows of the City.