Notes to SEFA
Title: Additional Grant Information
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the City of Scott City, Missouri (the City) under programs of the federal government for the year ended June 30, 2022. 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 (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the City, it is not intended to and does not present the financial position, changes in net position, or cash flows of the City. Expenditures reported on the Schedule are reported on the cash basis of accounting, which is a comprehensive basis of accounting other than accounting principles generally accepted in the United States of America. The cash basis recognizes revenue when received, and expenditures are recognized when the obligation is paid. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and OMB Circular A-87, Cost Principles for State, Local and Indian Tribal Governments, wherein certain types of expenditures are not allowable or are limited as to reimbursement.The City has elected to not use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.There were no federal expenditures during the year ended June 30, 2022 that the City passed-through to subrecipients.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The City received grant funds under the American Rescue Plan Act totaling $455,132.83 during the year ended June 30, 2022. The reported federal expenditures include expenditures paid during the year ended June 30, 2022, in accordance with the Citys cash basis of accounting. A reconciliation is as follows: American Rescue Plan Act (CFDA #21.027)Federal Receipts$ 455,132.83Expenditures (257,126.28)Remaining Funds $ 198,006.55