Notes to SEFA
Accounting Policies: Basis of PresentationThe accompanying schedule of expenditures of federal award (the Schedule) includesthe federal grant activity of City of Alamo, Texas. The information in the Schedule ispresented in accordance with the requirements of Title 2 U.S. Code of FederalRegulations (CFR) Part 200 Uniform Administrative Requirements, Cost Principals, andAudit Requirements for Federal Awards (Uniform Guidance). Therefore, someamounts may differ from amounts presented in, or used it the presentation of the basicfinancial statements.Summary of Significant Accounting PoliciesExpenditures reported on the Schedule are reported on the modified accrual basis ofaccounting. These expenditures are recognized following the cost principles containedin the Uniform Guidance, wherein certain types of expenditures are not allowable orare limited as to reimbursement. Negative amounts shown on the Schedule, if any,represent adjustments or credit made in the normal course of business to amountsreported as expenditures in prior years.Indirect Cost RateFor the year ended September 30, 2022, City of Alamo, Texas has elected not to use the10% de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.