Notes to SEFA
Title: Note 1. Basis of Presentation
Accounting Policies: Expenditures on the Schedule are reported on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: 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 shown on the
Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. ICMA holds a
Negotiated Indirect Cost Rate Agreement (NICRA) with its Federal cognizant agency, USAID, and therefore has elected not to use the 10-percent de
minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the Federal award activity of the International City/County
Management Association (ICMA) under programs of the Federal Government for the year ended June 30, 2023. The information in the Schedule is
presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards (Uniform Guidance) . The Schedule presents only a selected portion of the operations of ICMA;
accordingly, it is not intended to and does not present the financial position, changes in net assets or cash flows of ICMA.
Title: Note 2. Summary of Significant Accounting Policies
Accounting Policies: Expenditures on the Schedule are reported on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: 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 shown on the
Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. ICMA holds a
Negotiated Indirect Cost Rate Agreement (NICRA) with its Federal cognizant agency, USAID, and therefore has elected not to use the 10-percent de
minimis indirect cost rate as allowed under the Uniform Guidance.
Expenditures on the Schedule are reported on the accrual basis of accounting. 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 shown on the
Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. ICMA holds a
Negotiated Indirect Cost Rate Agreement (NICRA) with its Federal cognizant agency, USAID, and therefore has elected not to use the 10-percent de
minimis indirect cost rate as allowed under the Uniform Guidance.