Title: Note 1 - General
Accounting Policies: Note 1 - General
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of all federal awards of the City of North Miami, Florida (the City) for the year ended September 30, 2023.
Note 2 - Summary of Significant Accounting Policies Basis of Presentation
The information in the 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 the Schedule may differ from amounts presented in, or used in the preparation
of, the financial statements. 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 net positions, or cash flows of the City.
Basis of Accounting The expenditures in the accompanying Schedule are presented using the modified accrual basis of accounting. Under the modified accrual basis of accounting, expenditures are recognized when the City becomes obligated for a payment as a result of the receipt of the related goods or services.
Note 3 - Contingencies
Grant monies received and disbursed by the City are for specific purposes and are subject to review by grantor agencies. Such audits may result in requests for reimbursement due to disallowed expenditures.
Management is not aware of any material questioned or disallowed costs as a result of grant audits in process or completed; however, the possible disallowance by a governmental agency of any item charged to a program cannot be determined at this time.
Note 4 - Subrecipients Of the federal awards presented in the Schedules, the City did not provide any amounts to subrecipients. Note 5 - Indirect Cost Rate
The City has elected not to use the 10-percent de minimis indirect cost rate allowed under the
Uniform
Guidance.
De Minimis Rate Used: N
Rate Explanation: Note 5 - Indirect Cost Rate
The City has elected not to use the 10-percent de minimis indirect cost rate allowed under the
Uniform
Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of all federal awards of the City of North Miami, Florida (the City) for the year ended September 30,
2023.
Title: Note 2 - Summary of Significant Accounting Policies
Accounting Policies: Note 1 - General
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of all federal awards of the City of North Miami, Florida (the City) for the year ended September 30, 2023.
Note 2 - Summary of Significant Accounting Policies Basis of Presentation
The information in the 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 the Schedule may differ from amounts presented in, or used in the preparation
of, the financial statements. 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 net positions, or cash flows of the City.
Basis of Accounting The expenditures in the accompanying Schedule are presented using the modified accrual basis of accounting. Under the modified accrual basis of accounting, expenditures are recognized when the City becomes obligated for a payment as a result of the receipt of the related goods or services.
Note 3 - Contingencies
Grant monies received and disbursed by the City are for specific purposes and are subject to review by grantor agencies. Such audits may result in requests for reimbursement due to disallowed expenditures.
Management is not aware of any material questioned or disallowed costs as a result of grant audits in process or completed; however, the possible disallowance by a governmental agency of any item charged to a program cannot be determined at this time.
Note 4 - Subrecipients Of the federal awards presented in the Schedules, the City did not provide any amounts to subrecipients. Note 5 - Indirect Cost Rate
The City has elected not to use the 10-percent de minimis indirect cost rate allowed under the
Uniform
Guidance.
De Minimis Rate Used: N
Rate Explanation: Note 5 - Indirect Cost Rate
The City has elected not to use the 10-percent de minimis indirect cost rate allowed under the
Uniform
Guidance.
Basis of Presentation
The information in the 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 the Schedule may differ from amounts presented in, or used in the preparation of, the financial statements. 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 net positions, or cash flows of the City.
Basis of Accounting
The expenditures in the accompanying Schedule are presented using the modified accrual basis of accounting. Under the modified accrual basis of accounting, expenditures are recognized
when the City becomes obligated for a payment as a result of the receipt of the related goods or services.
Title: Note 3 - Contingencies
Accounting Policies: Note 1 - General
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of all federal awards of the City of North Miami, Florida (the City) for the year ended September 30, 2023.
Note 2 - Summary of Significant Accounting Policies Basis of Presentation
The information in the 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 the Schedule may differ from amounts presented in, or used in the preparation
of, the financial statements. 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 net positions, or cash flows of the City.
Basis of Accounting The expenditures in the accompanying Schedule are presented using the modified accrual basis of accounting. Under the modified accrual basis of accounting, expenditures are recognized when the City becomes obligated for a payment as a result of the receipt of the related goods or services.
Note 3 - Contingencies
Grant monies received and disbursed by the City are for specific purposes and are subject to review by grantor agencies. Such audits may result in requests for reimbursement due to disallowed expenditures.
Management is not aware of any material questioned or disallowed costs as a result of grant audits in process or completed; however, the possible disallowance by a governmental agency of any item charged to a program cannot be determined at this time.
Note 4 - Subrecipients Of the federal awards presented in the Schedules, the City did not provide any amounts to subrecipients. Note 5 - Indirect Cost Rate
The City has elected not to use the 10-percent de minimis indirect cost rate allowed under the
Uniform
Guidance.
De Minimis Rate Used: N
Rate Explanation: Note 5 - Indirect Cost Rate
The City has elected not to use the 10-percent de minimis indirect cost rate allowed under the
Uniform
Guidance.
Grant monies received and disbursed by the City are for specific purposes and are subject to review by grantor agencies. Such audits may result in requests for reimbursement due to disallowed
expenditures.
Management is not aware of any material questioned or disallowed costs as a result of grant audits in process or completed; however, the possible disallowance by a governmental agency of any
item charged to a program cannot be determined at this time.
Title: Note 4 - Subrecipients
Accounting Policies: Note 1 - General
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of all federal awards of the City of North Miami, Florida (the City) for the year ended September 30, 2023.
Note 2 - Summary of Significant Accounting Policies Basis of Presentation
The information in the 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 the Schedule may differ from amounts presented in, or used in the preparation
of, the financial statements. 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 net positions, or cash flows of the City.
Basis of Accounting The expenditures in the accompanying Schedule are presented using the modified accrual basis of accounting. Under the modified accrual basis of accounting, expenditures are recognized when the City becomes obligated for a payment as a result of the receipt of the related goods or services.
Note 3 - Contingencies
Grant monies received and disbursed by the City are for specific purposes and are subject to review by grantor agencies. Such audits may result in requests for reimbursement due to disallowed expenditures.
Management is not aware of any material questioned or disallowed costs as a result of grant audits in process or completed; however, the possible disallowance by a governmental agency of any item charged to a program cannot be determined at this time.
Note 4 - Subrecipients Of the federal awards presented in the Schedules, the City did not provide any amounts to subrecipients. Note 5 - Indirect Cost Rate
The City has elected not to use the 10-percent de minimis indirect cost rate allowed under the
Uniform
Guidance.
De Minimis Rate Used: N
Rate Explanation: Note 5 - Indirect Cost Rate
The City has elected not to use the 10-percent de minimis indirect cost rate allowed under the
Uniform
Guidance.
Of the federal awards presented in the Schedules, the City did not provide any amounts to subrecipients.
Title: Note 5 - Indirect Cost Rate
Accounting Policies: Note 1 - General
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of all federal awards of the City of North Miami, Florida (the City) for the year ended September 30, 2023.
Note 2 - Summary of Significant Accounting Policies Basis of Presentation
The information in the 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 the Schedule may differ from amounts presented in, or used in the preparation
of, the financial statements. 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 net positions, or cash flows of the City.
Basis of Accounting The expenditures in the accompanying Schedule are presented using the modified accrual basis of accounting. Under the modified accrual basis of accounting, expenditures are recognized when the City becomes obligated for a payment as a result of the receipt of the related goods or services.
Note 3 - Contingencies
Grant monies received and disbursed by the City are for specific purposes and are subject to review by grantor agencies. Such audits may result in requests for reimbursement due to disallowed expenditures.
Management is not aware of any material questioned or disallowed costs as a result of grant audits in process or completed; however, the possible disallowance by a governmental agency of any item charged to a program cannot be determined at this time.
Note 4 - Subrecipients Of the federal awards presented in the Schedules, the City did not provide any amounts to subrecipients. Note 5 - Indirect Cost Rate
The City has elected not to use the 10-percent de minimis indirect cost rate allowed under the
Uniform
Guidance.
De Minimis Rate Used: N
Rate Explanation: Note 5 - Indirect Cost Rate
The City has elected not to use the 10-percent de minimis indirect cost rate allowed under the
Uniform
Guidance.
The City has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.