Title: NOTE 1: REPORTING ENTITY
Accounting Policies: EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE MODIFIED ACCRUAL BASIS OF ACCOUNTING CONSISTENT WITH THE PRESENTATION OF THE BASIC FINANCIAL STATEMENTS. THE INFORMATION IN THE SCHEDULE IS PRESENTED IN ACCORDANCE WITH THE REQUIREMENTS OF TITLE 2 U.S. CODE OF FEDERAL REGULATIONS (CFR) PART 200, UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS
De Minimis Rate Used: N
Rate Explanation: THE CITY DID NOT ELECT TO USE THE 10% DE MINIMIS INDIRECT COST RATE FOR FISCAL YEAR 2023. NO INDIRECT COSTS WERE CHARGED TO ANY PROGRAMS.
The accompanying schedule of expenditures of federal awards (the Schedule) presents the activity or
Title: NOTE 1: REPORTING ENTITY
Accounting Policies: EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE MODIFIED ACCRUAL BASIS OF ACCOUNTING CONSISTENT WITH THE PRESENTATION OF THE BASIC FINANCIAL STATEMENTS. THE INFORMATION IN THE SCHEDULE IS PRESENTED IN ACCORDANCE WITH THE REQUIREMENTS OF TITLE 2 U.S. CODE OF FEDERAL REGULATIONS (CFR) PART 200, UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS
De Minimis Rate Used: N
Rate Explanation: THE CITY DID NOT ELECT TO USE THE 10% DE MINIMIS INDIRECT COST RATE FOR FISCAL YEAR 2023. NO INDIRECT COSTS WERE CHARGED TO ANY PROGRAMS.
expenditure of federal awards programs of the City of Coweta, Oklahoma under programs of the federal
Title: NOTE 1: REPORTING ENTITY
Accounting Policies: EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE MODIFIED ACCRUAL BASIS OF ACCOUNTING CONSISTENT WITH THE PRESENTATION OF THE BASIC FINANCIAL STATEMENTS. THE INFORMATION IN THE SCHEDULE IS PRESENTED IN ACCORDANCE WITH THE REQUIREMENTS OF TITLE 2 U.S. CODE OF FEDERAL REGULATIONS (CFR) PART 200, UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS
De Minimis Rate Used: N
Rate Explanation: THE CITY DID NOT ELECT TO USE THE 10% DE MINIMIS INDIRECT COST RATE FOR FISCAL YEAR 2023. NO INDIRECT COSTS WERE CHARGED TO ANY PROGRAMS.
government for the year ended June 30, 2023. The City’s reporting entity is defined in Note 1 of the
Title: NOTE 1: REPORTING ENTITY
Accounting Policies: EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE MODIFIED ACCRUAL BASIS OF ACCOUNTING CONSISTENT WITH THE PRESENTATION OF THE BASIC FINANCIAL STATEMENTS. THE INFORMATION IN THE SCHEDULE IS PRESENTED IN ACCORDANCE WITH THE REQUIREMENTS OF TITLE 2 U.S. CODE OF FEDERAL REGULATIONS (CFR) PART 200, UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS
De Minimis Rate Used: N
Rate Explanation: THE CITY DID NOT ELECT TO USE THE 10% DE MINIMIS INDIRECT COST RATE FOR FISCAL YEAR 2023. NO INDIRECT COSTS WERE CHARGED TO ANY PROGRAMS.
basic financial statements. All expenditure of federal awards received directly from federal agencies as
Title: NOTE 1: REPORTING ENTITY
Accounting Policies: EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE MODIFIED ACCRUAL BASIS OF ACCOUNTING CONSISTENT WITH THE PRESENTATION OF THE BASIC FINANCIAL STATEMENTS. THE INFORMATION IN THE SCHEDULE IS PRESENTED IN ACCORDANCE WITH THE REQUIREMENTS OF TITLE 2 U.S. CODE OF FEDERAL REGULATIONS (CFR) PART 200, UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS
De Minimis Rate Used: N
Rate Explanation: THE CITY DID NOT ELECT TO USE THE 10% DE MINIMIS INDIRECT COST RATE FOR FISCAL YEAR 2023. NO INDIRECT COSTS WERE CHARGED TO ANY PROGRAMS.
well as federal awards passed through other government agencies are included in the Schedule.
Title: NOTE 1: REPORTING ENTITY
Accounting Policies: EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE MODIFIED ACCRUAL BASIS OF ACCOUNTING CONSISTENT WITH THE PRESENTATION OF THE BASIC FINANCIAL STATEMENTS. THE INFORMATION IN THE SCHEDULE IS PRESENTED IN ACCORDANCE WITH THE REQUIREMENTS OF TITLE 2 U.S. CODE OF FEDERAL REGULATIONS (CFR) PART 200, UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS
De Minimis Rate Used: N
Rate Explanation: THE CITY DID NOT ELECT TO USE THE 10% DE MINIMIS INDIRECT COST RATE FOR FISCAL YEAR 2023. NO INDIRECT COSTS WERE CHARGED TO ANY PROGRAMS.
Because the Schedule presents only a selected portion of the operations of the City, it is not intended
Title: NOTE 1: REPORTING ENTITY
Accounting Policies: EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE MODIFIED ACCRUAL BASIS OF ACCOUNTING CONSISTENT WITH THE PRESENTATION OF THE BASIC FINANCIAL STATEMENTS. THE INFORMATION IN THE SCHEDULE IS PRESENTED IN ACCORDANCE WITH THE REQUIREMENTS OF TITLE 2 U.S. CODE OF FEDERAL REGULATIONS (CFR) PART 200, UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS
De Minimis Rate Used: N
Rate Explanation: THE CITY DID NOT ELECT TO USE THE 10% DE MINIMIS INDIRECT COST RATE FOR FISCAL YEAR 2023. NO INDIRECT COSTS WERE CHARGED TO ANY PROGRAMS.
and does not present the financial position, changes in net position or cash flows of the City.
Title: NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE MODIFIED ACCRUAL BASIS OF ACCOUNTING CONSISTENT WITH THE PRESENTATION OF THE BASIC FINANCIAL STATEMENTS. THE INFORMATION IN THE SCHEDULE IS PRESENTED IN ACCORDANCE WITH THE REQUIREMENTS OF TITLE 2 U.S. CODE OF FEDERAL REGULATIONS (CFR) PART 200, UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS
De Minimis Rate Used: N
Rate Explanation: THE CITY DID NOT ELECT TO USE THE 10% DE MINIMIS INDIRECT COST RATE FOR FISCAL YEAR 2023. NO INDIRECT COSTS WERE CHARGED TO ANY PROGRAMS.
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting
Title: NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE MODIFIED ACCRUAL BASIS OF ACCOUNTING CONSISTENT WITH THE PRESENTATION OF THE BASIC FINANCIAL STATEMENTS. THE INFORMATION IN THE SCHEDULE IS PRESENTED IN ACCORDANCE WITH THE REQUIREMENTS OF TITLE 2 U.S. CODE OF FEDERAL REGULATIONS (CFR) PART 200, UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS
De Minimis Rate Used: N
Rate Explanation: THE CITY DID NOT ELECT TO USE THE 10% DE MINIMIS INDIRECT COST RATE FOR FISCAL YEAR 2023. NO INDIRECT COSTS WERE CHARGED TO ANY PROGRAMS.
consistent with the presentation of the basic financial statements. The information in the Schedule is
Title: NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE MODIFIED ACCRUAL BASIS OF ACCOUNTING CONSISTENT WITH THE PRESENTATION OF THE BASIC FINANCIAL STATEMENTS. THE INFORMATION IN THE SCHEDULE IS PRESENTED IN ACCORDANCE WITH THE REQUIREMENTS OF TITLE 2 U.S. CODE OF FEDERAL REGULATIONS (CFR) PART 200, UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS
De Minimis Rate Used: N
Rate Explanation: THE CITY DID NOT ELECT TO USE THE 10% DE MINIMIS INDIRECT COST RATE FOR FISCAL YEAR 2023. NO INDIRECT COSTS WERE CHARGED TO ANY PROGRAMS.
presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part
Title: NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE MODIFIED ACCRUAL BASIS OF ACCOUNTING CONSISTENT WITH THE PRESENTATION OF THE BASIC FINANCIAL STATEMENTS. THE INFORMATION IN THE SCHEDULE IS PRESENTED IN ACCORDANCE WITH THE REQUIREMENTS OF TITLE 2 U.S. CODE OF FEDERAL REGULATIONS (CFR) PART 200, UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS
De Minimis Rate Used: N
Rate Explanation: THE CITY DID NOT ELECT TO USE THE 10% DE MINIMIS INDIRECT COST RATE FOR FISCAL YEAR 2023. NO INDIRECT COSTS WERE CHARGED TO ANY PROGRAMS.
200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal
Title: NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE MODIFIED ACCRUAL BASIS OF ACCOUNTING CONSISTENT WITH THE PRESENTATION OF THE BASIC FINANCIAL STATEMENTS. THE INFORMATION IN THE SCHEDULE IS PRESENTED IN ACCORDANCE WITH THE REQUIREMENTS OF TITLE 2 U.S. CODE OF FEDERAL REGULATIONS (CFR) PART 200, UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS
De Minimis Rate Used: N
Rate Explanation: THE CITY DID NOT ELECT TO USE THE 10% DE MINIMIS INDIRECT COST RATE FOR FISCAL YEAR 2023. NO INDIRECT COSTS WERE CHARGED TO ANY PROGRAMS.
Awards.
Title: NOTE 3: INDIRECT COST RATE
Accounting Policies: EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE MODIFIED ACCRUAL BASIS OF ACCOUNTING CONSISTENT WITH THE PRESENTATION OF THE BASIC FINANCIAL STATEMENTS. THE INFORMATION IN THE SCHEDULE IS PRESENTED IN ACCORDANCE WITH THE REQUIREMENTS OF TITLE 2 U.S. CODE OF FEDERAL REGULATIONS (CFR) PART 200, UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS
De Minimis Rate Used: N
Rate Explanation: THE CITY DID NOT ELECT TO USE THE 10% DE MINIMIS INDIRECT COST RATE FOR FISCAL YEAR 2023. NO INDIRECT COSTS WERE CHARGED TO ANY PROGRAMS.
The City did not elect to use the 10% de Minimis indirect cost rate for fiscal year 2023. There were no
Title: NOTE 3: INDIRECT COST RATE
Accounting Policies: EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE MODIFIED ACCRUAL BASIS OF ACCOUNTING CONSISTENT WITH THE PRESENTATION OF THE BASIC FINANCIAL STATEMENTS. THE INFORMATION IN THE SCHEDULE IS PRESENTED IN ACCORDANCE WITH THE REQUIREMENTS OF TITLE 2 U.S. CODE OF FEDERAL REGULATIONS (CFR) PART 200, UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS
De Minimis Rate Used: N
Rate Explanation: THE CITY DID NOT ELECT TO USE THE 10% DE MINIMIS INDIRECT COST RATE FOR FISCAL YEAR 2023. NO INDIRECT COSTS WERE CHARGED TO ANY PROGRAMS.
indirect cost allocations made to any of the federal grants as listed in the Schedule.
Title: NOTE 4: FEDERAL LOANS OUTSTANDING
Accounting Policies: EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE MODIFIED ACCRUAL BASIS OF ACCOUNTING CONSISTENT WITH THE PRESENTATION OF THE BASIC FINANCIAL STATEMENTS. THE INFORMATION IN THE SCHEDULE IS PRESENTED IN ACCORDANCE WITH THE REQUIREMENTS OF TITLE 2 U.S. CODE OF FEDERAL REGULATIONS (CFR) PART 200, UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS
De Minimis Rate Used: N
Rate Explanation: THE CITY DID NOT ELECT TO USE THE 10% DE MINIMIS INDIRECT COST RATE FOR FISCAL YEAR 2023. NO INDIRECT COSTS WERE CHARGED TO ANY PROGRAMS.
At the beginning of the year, the City’s Clean Water SRF Promissory Notes to the Oklahoma Water
Title: NOTE 4: FEDERAL LOANS OUTSTANDING
Accounting Policies: EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE MODIFIED ACCRUAL BASIS OF ACCOUNTING CONSISTENT WITH THE PRESENTATION OF THE BASIC FINANCIAL STATEMENTS. THE INFORMATION IN THE SCHEDULE IS PRESENTED IN ACCORDANCE WITH THE REQUIREMENTS OF TITLE 2 U.S. CODE OF FEDERAL REGULATIONS (CFR) PART 200, UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS
De Minimis Rate Used: N
Rate Explanation: THE CITY DID NOT ELECT TO USE THE 10% DE MINIMIS INDIRECT COST RATE FOR FISCAL YEAR 2023. NO INDIRECT COSTS WERE CHARGED TO ANY PROGRAMS.
Resources Board had outstanding balances totaling $418,715, issued an additional $247,982 during
Title: NOTE 4: FEDERAL LOANS OUTSTANDING
Accounting Policies: EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE MODIFIED ACCRUAL BASIS OF ACCOUNTING CONSISTENT WITH THE PRESENTATION OF THE BASIC FINANCIAL STATEMENTS. THE INFORMATION IN THE SCHEDULE IS PRESENTED IN ACCORDANCE WITH THE REQUIREMENTS OF TITLE 2 U.S. CODE OF FEDERAL REGULATIONS (CFR) PART 200, UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS
De Minimis Rate Used: N
Rate Explanation: THE CITY DID NOT ELECT TO USE THE 10% DE MINIMIS INDIRECT COST RATE FOR FISCAL YEAR 2023. NO INDIRECT COSTS WERE CHARGED TO ANY PROGRAMS.
the year, and had an outstanding balance of $664,697 at June 30, 2023. The remaining funds left to
Title: NOTE 4: FEDERAL LOANS OUTSTANDING
Accounting Policies: EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE MODIFIED ACCRUAL BASIS OF ACCOUNTING CONSISTENT WITH THE PRESENTATION OF THE BASIC FINANCIAL STATEMENTS. THE INFORMATION IN THE SCHEDULE IS PRESENTED IN ACCORDANCE WITH THE REQUIREMENTS OF TITLE 2 U.S. CODE OF FEDERAL REGULATIONS (CFR) PART 200, UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS
De Minimis Rate Used: N
Rate Explanation: THE CITY DID NOT ELECT TO USE THE 10% DE MINIMIS INDIRECT COST RATE FOR FISCAL YEAR 2023. NO INDIRECT COSTS WERE CHARGED TO ANY PROGRAMS.
draw are $15,306,303.
Title: NOTE 4: FEDERAL LOANS OUTSTANDING
Accounting Policies: EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE MODIFIED ACCRUAL BASIS OF ACCOUNTING CONSISTENT WITH THE PRESENTATION OF THE BASIC FINANCIAL STATEMENTS. THE INFORMATION IN THE SCHEDULE IS PRESENTED IN ACCORDANCE WITH THE REQUIREMENTS OF TITLE 2 U.S. CODE OF FEDERAL REGULATIONS (CFR) PART 200, UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS
De Minimis Rate Used: N
Rate Explanation: THE CITY DID NOT ELECT TO USE THE 10% DE MINIMIS INDIRECT COST RATE FOR FISCAL YEAR 2023. NO INDIRECT COSTS WERE CHARGED TO ANY PROGRAMS.
City