Audit 14003

Title: Basis of Presentation Accounting Policies: Expenditures reported on the Schedule are reported on the accrual or modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available. The underlying accounting records for some grant programs are maintained on the modified accrual basis of accounting. Under the modified accrual basis, revenues are recorded when susceptible to accrual, i.e., both measurable and available. Available means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. Expenditures are recorded when the liability is incurred. The accounting records for other grant programs are maintained on the accrual basis, i.e., when the revenue has been earned and the liability is incurred. De Minimis Rate Used: N Rate Explanation: The City of Bloomington has not elected to use the 10% de minimus indirect cost rate. The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the City of Bloomington under programs of the federal government for the year ended April 30, 2023. 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 of Bloomington, it is not intended to and does not present the financial position, changes in net position or cash flows of the City of Bloomington. The reporting entity for the City of Bloomington is based upon criteria established by the Governmental Accounting Standards Board. The City of Bloomington is the primary government according to GASB criteria, while the Library Foundation is a discretely reported component unit. The Library Foundation is not required to be audited according to Uniform Guidance.

Title: Subrecipients Accounting Policies: Expenditures reported on the Schedule are reported on the accrual or modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available. The underlying accounting records for some grant programs are maintained on the modified accrual basis of accounting. Under the modified accrual basis, revenues are recorded when susceptible to accrual, i.e., both measurable and available. Available means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. Expenditures are recorded when the liability is incurred. The accounting records for other grant programs are maintained on the accrual basis, i.e., when the revenue has been earned and the liability is incurred. De Minimis Rate Used: N Rate Explanation: The City of Bloomington has not elected to use the 10% de minimus indirect cost rate. Of the federal expenditures presented in the Schedule, the City of Bloomington provided federal awards to subrecipients as follows: Grant Program/Subrecipient Assistance Listing Amount Community Development Block Grants/Entitlement Grants: 14.218 Housing Authority of the city of Bloomington $ 49,064 KTB Financial Services 16,500 McLean County Regional Planning Commission 28,790 Mid Central Community Action 38,981 OSF Healthcare 5,000 Partners for Community for Recycling for Families 5,000 Personal Assistance Telephone Help Inc. 27,396 Prairie Legal Services 13,257 West Bloomington Revitalization Project 23,141 Total Community Development Block Grants/Entitlement Grants 207,129 Continuum of Care Program: 14.267 Childrens Home Aid 22,737 Housing Authority of the City of Bloomington 11,414 Partners Community 36,628 Personal Assistance Telephone Help 61,710 Salvation Army 93,848 Total Continuum of Care Program: 226,337 Total passed through to subreceipients: $ 433,466