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granting agency to another. Consequently, a clear understanding of these grant requirements at the beginning of the grant process is vital. The Finance Department will maintain copies of all grant draw requests and approved grant agreements (including budgets). The Program Director should maintain all other records. 5. Other Guidelines —Specific information on policies and procedures related to compliance with the provisions of the OMB UGG - Uniform Grant Guidance Compliance Supplement have been addressed later in this manual and should be considered along with the information in this section. Year-end Closing and Reporting The following provisions will govern the year-end close-out process of the city for purposes of external financial reporting: 1. To the extent that the city is required to have a single audit completed in accordance with OMB UGG - Uniform Grant Guidance, the city will accumulate the information necessary to prepare a schedule of expenditures of federal awards ("SEFA") in accordance with Federal and State requirements. This schedule will be characterized as follows: a. The schedule will include all federal financial assistance, including: grants, contracts, property, loans, loan guarantees, interest subsidies, cooperative agreements, insurance or direct appropriations. Amounts will be reported whether received directly from the Federal government or through a pass - through agency (in the event that the city is determined to be a sub -recipient and not a vendor). b. The schedule will be prepared on the same basis of accounting as the related financial statements. c. Federal awards will be grouped based on Federal awarding agency. Each Federal award with current expenditures will be listed along with its CFDA number, pass -through grantor name (if applicable) and award/pass-through grantor number (if applicable). Such information will agree to the award documentation. d. If the CFDA number of a Federal award cannot be reasonably determined, it shall be reported in the schedule using the two -digit prefix for the related Federal agency, followed by "UNKNOWN". e. To the extent that amounts are passed -through to sub -recipients, a schedule of federal awards provided to sub -recipients will be prepared. f. In addition to current year expenditures, the schedule will list approved award/grant amount, accrued/deferred revenue at the beginning of the year, current year cash received, current yearactual expenditures, and accrued/deferred revenue at the end of the year. If expenditures were incurred relative to this award in the prior year(s), this amount should be disclosed as memorandum -only. g. Any adjustments to prior year awards, expenditures, and balances (including transfers between grants) will be disclosed in the footnotes to the schedule. h. Accrued/deferred revenue in the schedule shall agree to the amounts recorded asreceivable/deferrals in the related financial statements. i. To the extent that a separate line item is included in the financial statements for Federal revenue, this amount shall agree to expenditures in the schedule. Any reconciling items will be disclosed in the footnotes to the schedule. Page 9