Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting which is described in Note A to the Citys financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts reflected in the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The City has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of the City under programs of the federal government for the fiscal year ended September 30, 2022. The City's reporting entity is defined in Note A to the City's financial statements. The information reported in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administration Requirements, Cost Principles, andAudit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents 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.
Title: INSURANCE
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting which is described in Note A to the Citys financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts reflected in the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The City has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The City did not have any federal insurance in effect during the fiscal year ended September 30, 2022.
Title: LOANS/LOAN GUARANTEES
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting which is described in Note A to the Citys financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts reflected in the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The City has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The City did not have any loans or loan guarantees outstanding as of September 30, 2022.
Title: NONMONETARY ASSISTANCE
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting which is described in Note A to the Citys financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts reflected in the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The City has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The City did not have any nonmonetary assistance during the fiscal year ended September 30, 2022.
Title: SUBRECIPIENTS
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting which is described in Note A to the Citys financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts reflected in the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The City has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The City did not provide federal awards to any subrecipients during the fiscal year ended September 30, 2022.