Notes to SEFA
Title: Payments to Subrecipients
Accounting Policies: 1. Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the City of Gainesville, Georgia, under programs for the federal government for the current fiscal year. 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). Because this 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.
De Minimis Rate Used: N
Rate Explanation: The City of Gainesville, Georgia has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
For the current year, the City of Gainesville, Georgia did not pass federal funds through to subrecipients.
Title: Outstanding Loan Balances
Accounting Policies: 1. Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the City of Gainesville, Georgia, under programs for the federal government for the current fiscal year. 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). Because this 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.
De Minimis Rate Used: N
Rate Explanation: The City of Gainesville, Georgia has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The City’s Capitalization Grant for Clean Water State Revolving Funds and Drinking Water State Revolving Funds loan draws made during the fiscal year are included in the schedule of expenditures of federal awards. The balances of the loans outstanding at the end of the current fiscal year are as follows:
Loan Number Balance
CW2020-022 $15,850,004
CW2020-023 $19,745,981
DW2020-023 $1,315,952