Title: Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal activity of the City of Orange City, Iowa
under programs of the federal government for the year ended June 30, 2023. 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). Because the Schedule presents only a selected portion of the operations of
the City, it is not intended to and does not present the financial position, changes in fund balance, or cash flows of the City. 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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
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 (the "Schedule") includes the federal activity of the City of Orange City, Iowa
under programs of the federal government for the year ended June 30, 2023. 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). Because the Schedule presents only a selected portion of the operations of
the City, it is not intended to and does not present the financial position, changes in fund balance, or cash flows of the City.
Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal activity of the City of Orange City, Iowa
under programs of the federal government for the year ended June 30, 2023. 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). Because the Schedule presents only a selected portion of the operations of
the City, it is not intended to and does not present the financial position, changes in fund balance, or cash flows of the City. 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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: No indirect costs are allocated, therefore no indirect cost rate is needed.
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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
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Title: Indirect Cost Rate
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal activity of the City of Orange City, Iowa
under programs of the federal government for the year ended June 30, 2023. 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). Because the Schedule presents only a selected portion of the operations of
the City, it is not intended to and does not present the financial position, changes in fund balance, or cash flows of the City. 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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: No indirect costs are allocated, therefore no indirect cost rate is needed.
The City has not elected to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.