Notes to SEFA
Title: FOOD DISTRIBUTION
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the City and is presented on the modified accrual basis of accounting. The City’s reporting entity is defined in Note 1 to the City’s financial statements. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The City does not elect to use a 10% de minimis indirect cost rate allowed under Section 2 CFR 200.331(a)(4).
Non-monetary assistance is reported in the schedule at the fair market value of the commodities received and disbursed. At June 30, 2023, the food service organization had food commodities totaling $16,005 in inventory.
Title: RELATIONSHIP TO THE FINANCIAL STATEMENTS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the City and is presented on the modified accrual basis of accounting. The City’s reporting entity is defined in Note 1 to the City’s financial statements. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The City does not elect to use a 10% de minimis indirect cost rate allowed under Section 2 CFR 200.331(a)(4).
Revenues from federal awards are reported in the City’s basic financial statements as follows: Revenues from federal awards are reported in the City’s basic financial statements as follows:
General Fund $ 40,199
Special Revenue Fund 3,416,855
Schools 2,332,560
Donated commodities 77,299
Total federal awards reported in the basic financial statements $ 5,866,913
Title: SUBRECIPIENTS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the City and is presented on the modified accrual basis of accounting. The City’s reporting entity is defined in Note 1 to the City’s financial statements. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The City does not elect to use a 10% de minimis indirect cost rate allowed under Section 2 CFR 200.331(a)(4).
ARPA (American Rescue Plan Act) Fiscal Recovery Funds were passed through to a subrecipient by the City.