Title: Basis of Presentation
Accounting Policies: Note B: Summary of Significant Accounting Policies Expenditures reported on the accompanying Schedule of Expenditures of Federal Awards are reported on the regulatory basis of accounting, which are accounting practices prescribed by the State of Kansas and are described in Note 1 to the City of Johnson City, Kansas’ regulatory basis financial statement.
De Minimis Rate Used: N
Rate Explanation: The City of Johnson City, Kansas has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (Schedule 3) includes the federal award activity of the City of Johnson City, Kansas 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 the City of Johnson City, Kansas, it is not intended to and does not present the aggregate cash and unencumbered cash balances and receipts and expenditures of the City of Johnson City, Kansas.
Title: Summary of Significant Accounting Policies
Accounting Policies: Note B: Summary of Significant Accounting Policies Expenditures reported on the accompanying Schedule of Expenditures of Federal Awards are reported on the regulatory basis of accounting, which are accounting practices prescribed by the State of Kansas and are described in Note 1 to the City of Johnson City, Kansas’ regulatory basis financial statement.
De Minimis Rate Used: N
Rate Explanation: The City of Johnson City, Kansas has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reported on the accompanying Schedule of Expenditures of Federal Awards are reported on the regulatory basis of accounting, which are accounting practices prescribed by the State of Kansas and are described in Note 1 to the City of Johnson City, Kansas’ regulatory basis financial statement.
Title: Indirect Cost Rate
Accounting Policies: Note B: Summary of Significant Accounting Policies Expenditures reported on the accompanying Schedule of Expenditures of Federal Awards are reported on the regulatory basis of accounting, which are accounting practices prescribed by the State of Kansas and are described in Note 1 to the City of Johnson City, Kansas’ regulatory basis financial statement.
De Minimis Rate Used: N
Rate Explanation: The City of Johnson City, Kansas has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The City of Johnson City, Kansas has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Community Facilities Loan
Accounting Policies: Note B: Summary of Significant Accounting Policies Expenditures reported on the accompanying Schedule of Expenditures of Federal Awards are reported on the regulatory basis of accounting, which are accounting practices prescribed by the State of Kansas and are described in Note 1 to the City of Johnson City, Kansas’ regulatory basis financial statement.
De Minimis Rate Used: N
Rate Explanation: The City of Johnson City, Kansas has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The beginning and ending balances of the Community Facilities Loan (Assistance Listing #10.766) are included in the City of Johnson City, Kansas’ regulatory basis Notes to the Financial Statements. Loans outstanding at the end of the year are included in the federal expenditures presented in the schedule. The activity for the year ended December 31, 2023 consists of: Beginning Principal Ending Balance Payments Balance $1,709,636 $ 43,264 $1,666,372