Title: Note 1 - Basis of Presentation:
Accounting Policies: SEE NEXT SHEET
De Minimis Rate Used: N
Rate Explanation: CITY OF LENOIR ELECTED NOT TO USE THE 10 PERCENT DE MINIMIS INDIRECT COST RATE ALLOWED UNDER THE UNIFORM GUIDANCE
The accompanying schedule of Federal and State awards (the Schedule) includes the federal and state award activity of
Title: Note 1 - Basis of Presentation:
Accounting Policies: SEE NEXT SHEET
De Minimis Rate Used: N
Rate Explanation: CITY OF LENOIR ELECTED NOT TO USE THE 10 PERCENT DE MINIMIS INDIRECT COST RATE ALLOWED UNDER THE UNIFORM GUIDANCE
the City of Lenoir under programs of the federal and state governments for the year ended June 30, 2022. The information in this Schedule is presented in
Title: Note 1 - Basis of Presentation:
Accounting Policies: SEE NEXT SHEET
De Minimis Rate Used: N
Rate Explanation: CITY OF LENOIR ELECTED NOT TO USE THE 10 PERCENT DE MINIMIS INDIRECT COST RATE ALLOWED UNDER THE UNIFORM GUIDANCE
accordance with the requirements of Title 2 U.S. code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements
Title: Note 1 - Basis of Presentation:
Accounting Policies: SEE NEXT SHEET
De Minimis Rate Used: N
Rate Explanation: CITY OF LENOIR ELECTED NOT TO USE THE 10 PERCENT DE MINIMIS INDIRECT COST RATE ALLOWED UNDER THE UNIFORM GUIDANCE
for Federal Awards(Uniform Guidance) and the State Single Audit Implementation Act. Because the Schedule presents only a selected portion of the operations of City of
Title: Note 1 - Basis of Presentation:
Accounting Policies: SEE NEXT SHEET
De Minimis Rate Used: N
Rate Explanation: CITY OF LENOIR ELECTED NOT TO USE THE 10 PERCENT DE MINIMIS INDIRECT COST RATE ALLOWED UNDER THE UNIFORM GUIDANCE
Lenoir, it is not intended to and does not present the financial position, changes in net assets, or cash flows of City of Lenoir.
Title: Note 2 - Summary of Significant Accounting Policies:
Accounting Policies: SEE NEXT SHEET
De Minimis Rate Used: N
Rate Explanation: CITY OF LENOIR ELECTED NOT TO USE THE 10 PERCENT DE MINIMIS INDIRECT COST RATE ALLOWED UNDER THE UNIFORM GUIDANCE
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles
Title: Note 2 - Summary of Significant Accounting Policies:
Accounting Policies: SEE NEXT SHEET
De Minimis Rate Used: N
Rate Explanation: CITY OF LENOIR ELECTED NOT TO USE THE 10 PERCENT DE MINIMIS INDIRECT COST RATE ALLOWED UNDER THE UNIFORM GUIDANCE
contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. City of Lenoir has elected not to use the
Title: Note 2 - Summary of Significant Accounting Policies:
Accounting Policies: SEE NEXT SHEET
De Minimis Rate Used: N
Rate Explanation: CITY OF LENOIR ELECTED NOT TO USE THE 10 PERCENT DE MINIMIS INDIRECT COST RATE ALLOWED UNDER THE UNIFORM GUIDANCE
10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Note 3 - Loans Outstanding
Accounting Policies: SEE NEXT SHEET
De Minimis Rate Used: N
Rate Explanation: CITY OF LENOIR ELECTED NOT TO USE THE 10 PERCENT DE MINIMIS INDIRECT COST RATE ALLOWED UNDER THE UNIFORM GUIDANCE
The City of Lenoir had the following loan balances outstanding at June 30, 2022