Audit 301025

Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting Policies: Expenditures reported on the SEFA are reported on the accrual basis of accounting. De Minimis Rate Used: N Rate Explanation: City of Coolidge, Arizona did not elect to use the 10-percent de minimis indirect cost rate as covered in 2 CFR §200.414. Expenditures reported on the Schedule are reported on the accrual 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. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements. The City of Coolidge, Arizona did not elect to use the 10-percent de minimis indirect cost rate as covered in 2 CFR §200.414.