Audit 23578

Title: Note 3 - Pass-Through Grant Numbers Accounting Policies: BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards (the "Schedule") includes the federalaward activity of the City of Grand Island, Nebraska (the "City") under programs of the federalgovernment for the year ended September 30, 2022. The information in this Schedule is presented inaccordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (UniformGuidance). Because the Schedule presents only a selected portion of the operations of the City, it is notintended to and does not present the financial position, changes in net position or cash flows of the City. De Minimis Rate Used: N Rate Explanation: Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance or other applicable regulatory guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The auditee did not use the de minimis cost rate. The federal loan programs listed subsequently are administered directly by the City of Grand Island, Nebraska, and balances and transactions relating to these programs are included in the City of Grand Island, Nebraska's basic financial statements. Loans outstanding at the beginning of the year and loans made during the year are included in the federal expenditures presented in the Schedule. The balance of loans outstanding at September 30, 2022, consists of: COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS (14.218) - Balances outstanding at the end of the audit period were 136438.