Title: Basis of Presentation
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the City
of Yankton and is presented on the cash basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in or
used in the preparation of the financial statements. Expenditures reported in the Schedule are cash basis. Such expenditures are recognized following, as
applicable, either the cost principles in OMB Circular A-87, Cost Principles for State, Local and Indian Tribal
Governments, or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures
are not allowable or are limited as to reimbursement. The City has elected not to use the 10% de minimis
indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: No indirect costs are allocated, therefore no indirect cost rate is needed.
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the City
of Yankton and is presented on the cash basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in or
used in the preparation of the financial statements.
Title: Federal Loan Programs
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the City
of Yankton and is presented on the cash basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in or
used in the preparation of the financial statements. Expenditures reported in the Schedule are cash basis. Such expenditures are recognized following, as
applicable, either the cost principles in OMB Circular A-87, Cost Principles for State, Local and Indian Tribal
Governments, or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures
are not allowable or are limited as to reimbursement. The City has elected not to use the 10% de minimis
indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: No indirect costs are allocated, therefore no indirect cost rate is needed.
The City of Yankton had the following loan balances outstanding from the South Dakota Clean Water State
Revolving Fund, Assistance Listing #66.458 and the South Dakota Drinking Water State Revolving Fund,
Assistance Listing #66.468 as of December 31, 2022:
Total Amount Federal Portion
Of Loan Of Loan
Outstanding Outstanding
Wastewater System #3, Series 2011 (83.33%) $ 416,821 $ 347,337
Wastewater System #4, Series 2016 (14.13%) 2,834,442 400,620
Total Wastewater System $ 3,251,263 $ 747,957
Water System, Services Series #5 (28.42%) $ 10,282,469 $ 2,922,278
Water System, Services Series #6 (20.03%) 33,578,082 6,725,689
Total Water System $ 43,860,551 $ 9,647,967
Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the City
of Yankton and is presented on the cash basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in or
used in the preparation of the financial statements. Expenditures reported in the Schedule are cash basis. Such expenditures are recognized following, as
applicable, either the cost principles in OMB Circular A-87, Cost Principles for State, Local and Indian Tribal
Governments, or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures
are not allowable or are limited as to reimbursement. The City has elected not to use the 10% de minimis
indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: No indirect costs are allocated, therefore no indirect cost rate is needed.
Expenditures reported in the Schedule are cash basis. Such expenditures are recognized following, as
applicable, either the cost principles in OMB Circular A-87, Cost Principles for State, Local and Indian Tribal
Governments, or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures
are not allowable or are limited as to reimbursement. The City has elected not to use the 10% de minimis
indirect cost rate as allowed under the Uniform Guidance.