Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Expenditures reported in the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the Uniform Guidance, whereincertain expenditures are not allowable or are limited as reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
BROWNFIELDS ASSESSMENT AND CLEANUP COOPERATIVE AGREEMENTS (66.818) - Balances outstanding at the end of the audit period were 127436.
Title: Basis of Presentation
Accounting Policies: Expenditures reported in the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the Uniform Guidance, whereincertain expenditures are not allowable or are limited as reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federalgrant activity of the City of Wheeling, West Virginia, under programs of the federal government forthe year ending June 30, 2022. The information in this Schedule is presented in accordance with therequirements of Title 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 the operation of the City of Wheeling, WestVirginia, it is not intended to and does not present the financial position, changes in net assets, or cashflows of the City of Wheeling, West Virginia.