Notes to SEFA
Title: (1) General
Accounting Policies: The accompanying Schedule is presented using the modified accrual basis of accounting, which is described in Note 1 to the City’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The City did not elect to use a 10% de minimis indirect cost rate allowed under section 2 CFR 200.331(a)(4).
The accompanying Schedule of Expenditures of Federal Awards (Schedule) presents the activity of all federally assisted programs of the City’s Reporting Entity as defined in Note 1 to the City’s basic financial statements. All federal awards received directly from federal agencies, as well as federal awards passed through other government agencies, are included on the Schedule.
Title: (3) Relationship to Financial Statements
Accounting Policies: The accompanying Schedule is presented using the modified accrual basis of accounting, which is described in Note 1 to the City’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The City did not elect to use a 10% de minimis indirect cost rate allowed under section 2 CFR 200.331(a)(4).
Federal expenditures, revenues and capital contributions are reported in the Reporting Entity’s basic financial statements as follows: See Notes to the SEFA for Chart/Table.
Title: (4) Subrecipients
Accounting Policies: The accompanying Schedule is presented using the modified accrual basis of accounting, which is described in Note 1 to the City’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The City did not elect to use a 10% de minimis indirect cost rate allowed under section 2 CFR 200.331(a)(4).
The Chesapeake Redevelopment and Housing Authority, Children’s Harbor, ForKids, Boys and Girls Clubs of Southeast VA, Chesapeake Care Clinic, Chesapeake Homeless Response Center, Habitat for Humanity, Buffalow Family, Heron’s Landing, and Chesapeake Supportive Housing are the subrecipients for federal awards of $878,522 from the Community Development Block Grant Program. Chesapeake Redevelopment and Housing Authority, The Hampton Roads Planning District Commission (Housing Division), ForKids, Habitat for Humanity, and Chesapeake Home are the subrecipients of $662,349 from the HOME Investment Program received from the U.S. Department of Housing and Urban Development.