Notes to SEFA
Accounting Policies: NOTE 1 BASIS OF PRESENTATIONThe accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federalaward activity of the City of Duarte (City) under programs of the federal government for the fiscalyear ended June 30, 2022. The information in this Schedule is presented in accordance with therequirements 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 notintended to and does not present the financial position or results of the Citys operations.NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESBasis of AccountingThe accompanying Schedule is presented using the modified accrual basis of accounting forgovernmental funds, which is described in Note 1 of the notes 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.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. The City charged no indirect costs to federal programs this fiscal year.