Title: REPORTING ENTITY
Accounting Policies: The financial reporting entity, as defined by the Governmental Accounting Standards Board (GASB) Codification, consists of (a) the primary government, City of Arcadia (City), and (b) component units which include organizations for which the primary government is financially accountable, and other organizations for which the primary government is not accountable, but for which the nature and significance of their relationship with the primary government are such that exclusion would cause the reporting entity's financial statements to be misleading or incomplete.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The financial reporting entity, as defined by the Governmental Accounting Standards Board (GASB) Codification, consists of (a) the primary government, City of Arcadia (City), and (b) component units which include organizations for which the primary government is financially accountable, and other organizations for which the primary government is not accountable, but for which the nature and significance of their relationship with the primary government are such that exclusion would cause the reporting entity's financial statements to be misleading or incomplete.
Title: SUMMARY OF SIGNIFICANT POLICIES
Accounting Policies: The financial reporting entity, as defined by the Governmental Accounting Standards Board (GASB) Codification, consists of (a) the primary government, City of Arcadia (City), and (b) component units which include organizations for which the primary government is financially accountable, and other organizations for which the primary government is not accountable, but for which the nature and significance of their relationship with the primary government are such that exclusion would cause the reporting entity's financial statements to be misleading or incomplete.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Basis of Accounting
Funds received under the various grant programs have been recorded within general, special revenue, and capital projects funds of the City. The City utilizes the modified accrual method of accounting for the general, special revenue, and capital projects funds. The accompanying Schedule of Expenditures of Federal Awards (Schedule) has been prepared accordingly.
Schedule of Expenditures of Federal Awards
The accompanying schedule presents the activity of all federal financial assistance programs of the City. Federal financial assistance received directly from federal agencies, as well as federal financial assistance passed through the State of California and County of Los Angeles, California are also included in the schedule.
The schedule was prepared from only the accounts of various grant programs and, therefore, does not present the financial position or results of operations of the City.
For the fiscal year ended June 30, 2023, the City did not have payments passed through to other agencies.
The City has not elected to use the ten percent de minimis cost rate as covered in Section 200.414 Indirect (F&A) costs of the Uniform Guidance.
Title: PROGRAM DESCRIPTIONS
Accounting Policies: The financial reporting entity, as defined by the Governmental Accounting Standards Board (GASB) Codification, consists of (a) the primary government, City of Arcadia (City), and (b) component units which include organizations for which the primary government is financially accountable, and other organizations for which the primary government is not accountable, but for which the nature and significance of their relationship with the primary government are such that exclusion would cause the reporting entity's financial statements to be misleading or incomplete.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
U. S. Department of Housing and Urban Development
Community Development Block Grant (CDBG)
The Community Development Block Grant (CDBG) Program was authorized under Title I of the Housing and Community Development Act of 1974. The primary objective of the CDBG Program is the development of viable urban communities, including adequate housing, a suitable living environment, and expansion of economic opportunities principally for persons of low to moderate income. Under this program, the Department of Housing and Urban Development (HUD) distributes funds based upon approved applications to eligible local governmental units for the purpose of community improvement and betterment.
Funds made available under an emergency appropriation on March 27, 2020, known as CDBG-CV, are to be used similarly, but specifically to prevent, prepare for, and respond to coronavirus.
U.S. Department of Justice
Bulletproof Vest Partnership Program
The Bulletproof Vest Partnership Program’s objective is to protect the lives of law enforcement officers by helping State, local, and tribal law enforcement agencies provide officers with armored vests.
U. S. Department of Homeland Security
Homeland Security Grant Program
The objective of this grant is to enhance the ability of the state, local, and tribal governments to prepare, prevent, respond to, and recover from terrorist attacks and other disasters. The Homeland Security Grant Program is the primary funding mechanism for building and sustaining national preparedness capabilities and is comprised of four separate grant programs.
U.S. Department of Treasury
Coronavirus State and Local Fiscal Recovery Funds
The objective of this grant is to make payments generally to States (defined to include the District of Columbia), U.S. Territories (defined to include, Puerto Rico, U.S. Virgin Islands, Guam, Northern Mariana Islands, and American Samoa), Tribes, Metropolitan cities, Counties, and Nonentitlement units of local government to respond to the COVID-19 public health emergency or its negative economic impact, including to provide assistance to households, small business, nonprofits, and impacted industries, such as tourism, travel, and hospitality; respond to workers performing essential work during the COVID-19 pandemic by providing premium pay to eligible workers of the State, territory, tribal government, metropolitan city, county, or nonentitlement units of local government performing essential work or by providing grants to eligible employers that have eligible workers; provide government services, to the extent of the reduction of revenue due to COVID-19 relative to revenues collected in the most recent full fiscal year of the State, territory, tribal government, metropolitan city, county, or nonentitlement units of local government; or make necessary investments in water, sewer, or broadband infrastructure.