Audit 310845

Title: Basis of Presentation Accounting Policies: The Schedule of Expenditures of Federal Awards includes the federal grant activity of the City of St. Cloud, Florida and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budget (OMB) Uniform Guidance. Therefore, amounts presented in this schedule may differ from the amounts presented in, or used in, the preparation of the basic financial statements. De Minimis Rate Used: N Rate Explanation: The City of St. Cloud, Florida has elected not to use the 10% de minimis indirect cost rate allowed under the OMB Uniform Guidance. The Schedule of Expenditures of Federal Awards includes the federal grant activity of the City of St. Cloud, Florida and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budget (OMB) Uniform Guidance. Therefore, amounts presented in this schedule may differ from the amounts presented in, or used in, the preparation of the basic financial statements.

Title: Indirect Cost Rate Accounting Policies: The Schedule of Expenditures of Federal Awards includes the federal grant activity of the City of St. Cloud, Florida and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budget (OMB) Uniform Guidance. Therefore, amounts presented in this schedule may differ from the amounts presented in, or used in, the preparation of the basic financial statements. De Minimis Rate Used: N Rate Explanation: The City of St. Cloud, Florida has elected not to use the 10% de minimis indirect cost rate allowed under the OMB Uniform Guidance. The City of St. Cloud, Florida has elected not to use the 10% de minimis indirect cost rate allowed under the OMB Uniform Guidance.