Notes to SEFA
Title: SINGLE AUDIT REPORTING ENTITY
Accounting Policies: The accompanying SEFA has been prepared using the modified accrual basis of accountingas fully described in the Summary of Significant Accounting Policies accompanying the Citysbasic financial statements. The information in this schedule is presented in accordance withthe requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principals and Audit Requirements for Federal Awards (UniformGuidance). Therefore, some amounts presented in this schedule may differ from amountspresented in, or used in, the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal Awards (SEFA) presents theexpenditures of all federal award programs of City of Rockville, Maryland (the City) for theyear ended June 30, 2022.
Title: RECONCILIATION TO BASIC FINANCIAL STATEMENTS
Accounting Policies: The accompanying SEFA has been prepared using the modified accrual basis of accountingas fully described in the Summary of Significant Accounting Policies accompanying the Citysbasic financial statements. The information in this schedule is presented in accordance withthe requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principals and Audit Requirements for Federal Awards (UniformGuidance). Therefore, some amounts presented in this schedule may differ from amountspresented in, or used in, the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Amounts reported in the accompanying SEFA agree with amounts reported on the Citys basic financial statements and the related federal financial reports submitted by the City.