Notes to SEFA
Title: SUBRECIPIENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards is a summary of the activity of the
City’s federal award programs presented on the modified accrual basis of accounting in
accordance with generally accepted accounting principles. Accordingly, revenues are recognized
when the qualifying expenditure has been incurred and expenditures have been recognized when
the fund liability has been incurred.
De Minimis Rate Used: N
Rate Explanation: The City has not elected to use the 10% de minimis indirect cost rate as permitted by 2 CFR
Section 200.414.
For the fiscal year ending December 31, 2022, the City did not provide any awards to
subrecipients.
Title: OTHER INFORMATION
Accounting Policies: The accompanying schedule of expenditures of federal awards is a summary of the activity of the
City’s federal award programs presented on the modified accrual basis of accounting in
accordance with generally accepted accounting principles. Accordingly, revenues are recognized
when the qualifying expenditure has been incurred and expenditures have been recognized when
the fund liability has been incurred.
De Minimis Rate Used: N
Rate Explanation: The City has not elected to use the 10% de minimis indirect cost rate as permitted by 2 CFR
Section 200.414.
The City did not receive any federal insurance, free rent, or noncash assistance and had no
federal loans or loan guarantees outstanding with continuing compliance requirements during the
year ended December 31, 2022.