Audit 15670

Accounting Policies: The accompanying schedules of expenditure of federal awards (the “Schedule”) includes the federal award activity of the Municipality of Norristown under programs of the federal government for the year ended December 31, 2022. 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 Municipality of Norristown, it is not intended to and does not present the financial position, changes in net position or cash flows of the Municipality of Norristown. Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following, as applicable, 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. The Municipality of Norristown has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The Municipality has NOT elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance, Section 414.