Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includesthe federal award activity of the City of New Iberia (City) under programs of the federal governmentfor the year ended October 31, 2022. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit 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 assets, or cash flows of the City. The accompanying Schedule of Expenditures of Federal Awards is presented using themodified accrual basis of accounting, which is described in Note I to the City's basic financial statements for the year ended October 31, 2022. Such expenditures are recognized following the costprinciples contained in the Uniform Guidance, wherein certain types of expenditures are notallowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.