Audit 10267

Title: Basis of Presentation Accounting Policies: Expenditures reported on the Schedule are reported on the cash basis of accounting Such expendituresare recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirments for Federal Awards, wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement De Minimis Rate Used: N Rate Explanation: Cash basis The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the Mingo County Redevelopment Authority (the Authority) under programs of the federal government for the year ended June 30, 2023. The information on 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 Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Authority.

Title: Significant Accounting Policies Accounting Policies: Expenditures reported on the Schedule are reported on the cash basis of accounting Such expendituresare recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirments for Federal Awards, wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement De Minimis Rate Used: N Rate Explanation: Cash basis Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are recognized following 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 may or may not be allowable or may be limited as to reimbursement.

Title: Indirect Cost Rate Accounting Policies: Expenditures reported on the Schedule are reported on the cash basis of accounting Such expendituresare recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirments for Federal Awards, wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement De Minimis Rate Used: N Rate Explanation: Cash basis The Authority has elected not to use the 10-percent de-minimis indirect cost rate as allowed under the uniform Guidance.