Title: Note 1 - Basis of Presentaiton and Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal awards activity of CityWide under programs of the federal government for the year ended December 31, 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 CityWide, it is not intended to and does not present the financial position, changes in net assets, or cash flows of CityWide.
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.
De Minimis Rate Used: N
Rate Explanation: N/A
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal awards activity of CityWide under programs of the federal government for the year ended December 31, 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 CityWide, it is not intended to and does not present the financial position, changes in net assets, or cash flows of CityWide.
Title: Note 2 - Indirect Cost Rate
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal awards activity of CityWide under programs of the federal government for the year ended December 31, 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 CityWide, it is not intended to and does not present the financial position, changes in net assets, or cash flows of CityWide.
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.
De Minimis Rate Used: N
Rate Explanation: N/A
CityWide has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: Note 3 - Programs' Status
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal awards activity of CityWide under programs of the federal government for the year ended December 31, 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 CityWide, it is not intended to and does not present the financial position, changes in net assets, or cash flows of CityWide.
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.
De Minimis Rate Used: N
Rate Explanation: N/A
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.
Title: Note 4 - City of Dayton Contracts
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal awards activity of CityWide under programs of the federal government for the year ended December 31, 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 CityWide, it is not intended to and does not present the financial position, changes in net assets, or cash flows of CityWide.
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.
De Minimis Rate Used: N
Rate Explanation: N/A
CityWide manages, as a contractor, several federal programs flowing through the City of Dayton to CityWide. CityWide recompense for such services is determined on a contract basis.
Title: Note 5 - Small Business Administration
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal awards activity of CityWide under programs of the federal government for the year ended December 31, 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 CityWide, it is not intended to and does not present the financial position, changes in net assets, or cash flows of CityWide.
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.
De Minimis Rate Used: N
Rate Explanation: N/A
CityWide is a Certified Development Company for the Small Business Administration 503 and 504 loan programs (CFDA No. 59.041), and earned fees of $114,417 in 2023 for the performance of various administrative functions.
Title: Note 6 - Principles of Combination
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal awards activity of CityWide under programs of the federal government for the year ended December 31, 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 CityWide, it is not intended to and does not present the financial position, changes in net assets, or cash flows of CityWide.
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.
De Minimis Rate Used: N
Rate Explanation: N/A
All expenses noted in the Schedule of Expenditures of Federal Awards are directly from CityWide or Dayton Region New Market Fund, LLC, which is 100% owned by CityWide.