Notes to SEFA
Title: SINGLE AUDIT REPORTING ENTITY
Accounting Policies: The accompanying SEFA has been prepared using the modified accrual basis of accounting as fully described in the Summary of Significant Accounting Policies accompanying the City’s basic financial statements. 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 Principals and Audit Requirements for Federal Awards (Uniform Guidance). 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 City has not elected to use the 10 percent de minimis indirect cost rate allowed under
Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (SEFA) presents the expenditures of all federal award programs of City of Rockville, Maryland (the City) for the
year ended June 30, 2023.
Title: RECONCILIATION TO BASIC FINANCIAL STATEMENTS
Accounting Policies: The accompanying SEFA has been prepared using the modified accrual basis of accounting as fully described in the Summary of Significant Accounting Policies accompanying the City’s basic financial statements. 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 Principals and Audit Requirements for Federal Awards (Uniform Guidance). 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 City has not elected to use the 10 percent de minimis indirect cost rate allowed under
Uniform Guidance.
Amounts reported in the accompanying SEFA agree with amounts reported on the City’s basic financial statements and the related federal financial reports submitted by the City.