Audit 10084

Title: PROGRAM COSTS Accounting Policies: This schedule is prepared on the same basis of accounting as the City of Shoreline’s financial statements. The City of Shoreline uses the Generally Accepted Accounting Principles (GAAP) basis of accounting. De Minimis Rate Used: Y Rate Explanation: The City has elected the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. However, this indirect cost rate was not applied to any federal grants during the year. The amounts shown as current year expenditures represent only the federal grant portion of the program costs. Entire program costs, including the City of Shoreline’s portion, are more than shown. Such expenditures are recognized following, as applicable, either the cost principles in OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.