Audit 24065

Accounting Policies: (1) Basis of PresentationThe accompanying schedule of expenditures of federal awards (the Schedule)includes the federal awards activity of the City of San Jacinto (the City) underfederal programs of the federal government for the year ended June 30, 2022. Theinformation in this Schedule is presented in accordance with the requirements ofTitle 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards(Uniform Guidance). Because the Schedule presents only a selected portion of theCity, it is not intended to and does not present the financial position, changes innet assets, or cash flows of the City.(2) Summary of Significant Accounting PoliciesExpenditures reported on the Schedule are reported on the modified accrual basisof accounting. Under the modified accrual basis of accounting, expenditures areincurred when the City becomes obligated for payment as a result of the receipt ofthe related goods and services. Expenditures reported include any property orequipment acquisitions incurred under the federal program. The City did not electto use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.