Notes to SEFA
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 information in this 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. Because the Schedule presents only a selected portion of the operations of the City, it is not intended to and does not present the net position and changes in net position of the City. Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The City did not pass-through any of its federal awards to a subrecipient during the year ended June 30, 2023.
Title: Non-cash Assistance
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 information in this 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. Because the Schedule presents only a selected portion of the operations of the City, it is not intended to and does not present the net position and changes in net position of the City. Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
No federal awards were expended in the form of non-cash assistance during the year ended June 30, 2023.
Title: Loan Assistance
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 information in this 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. Because the Schedule presents only a selected portion of the operations of the City, it is not intended to and does not present the net position and changes in net position of the City. Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The City had an outstanding loan with continuing compliance requirements at June 30, 2023 with the state of Louisiana Clean Water State Revolving Fund, AL number 66.458. The Citys federal portion of the net loan balance with continuing compliance requirements at June 30, 2023 was $1,286,653.