Audit 17096

Accounting Policies: Note 1: Basic PresentationThe accompanying schedule of expenditures of federal awards (the Schedule)includes the federal award activity of the City of La Verne (the City) under programsof the federal government for the year ended June 30, 2022. The information in thisSchedule is presented in accordance with the requirements of Title 2 U.S. Code ofFederal Regulations (CFR) Part 200, Uniform Administrative Requirements, CostPrinciples, and Audit Requirements for Federal Awards (Uniform Guidance).Because the Schedule presents only a selected portion of the operations of the City,it is not intended to and does not present the financial position, changes in netposition, or cash flows of the City.Note 2: Summary of Significant Accounting PoliciesExpenditures reported on the Schedule are reported on the modified accrual basisof accounting. Such expenditures are recognized following the cost principlescontained in the Uniform Guidance, wherein certain types of expenditures are notallowable or are limited as to reimbursement. Negative amounts shown on theSchedule represent adjustments or credits made in the normal course of business toamounts reported as expenditures in prior years. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.