Audit 315278

Title: Note 1 Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the City of Greenwood, Indiana (the City). The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations, Part 200 Uniform Administration 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, it is not intended to and does not present the financial position, changes in net position/fund balance, or cash flows of the City. In addition, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance or federal award guidance when such cost principles are not applicable to the specific federal award. Under the cost principles contained in the Uniform Guidance and federal award guidance, certain types of expenditures are not allowed or are limited as to reimbursement. When federal awards are received on a reimbursement basis, the federal awards are considered expended when the reimbursement is received. When federal awards are received through advanced funding, the federal awards are considered expended when disbursements occur. The City provided no funds to subrecipients in 2023. De Minimis Rate Used: N Rate Explanation: The City has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the City of Greenwood, Indiana (the City). The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations, Part 200 Uniform Administration 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, it is not intended to and does not present the financial position, changes in net position/fund balance, or cash flows of the City. In addition, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance or federal award guidance when such cost principles are not applicable to the specific federal award. Under the cost principles contained in the Uniform Guidance and federal award guidance, certain types of expenditures are not allowed or are limited as to reimbursement. When federal awards are received on a reimbursement basis, the federal awards are considered expended when the reimbursement is received. When federal awards are received through advanced funding, the federal awards are considered expended when disbursements occur. The City provided no funds to subrecipients in 2023.

Title: Note 2 Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the City of Greenwood, Indiana (the City). The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations, Part 200 Uniform Administration 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, it is not intended to and does not present the financial position, changes in net position/fund balance, or cash flows of the City. In addition, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance or federal award guidance when such cost principles are not applicable to the specific federal award. Under the cost principles contained in the Uniform Guidance and federal award guidance, certain types of expenditures are not allowed or are limited as to reimbursement. When federal awards are received on a reimbursement basis, the federal awards are considered expended when the reimbursement is received. When federal awards are received through advanced funding, the federal awards are considered expended when disbursements occur. The City provided no funds to subrecipients in 2023. De Minimis Rate Used: N Rate Explanation: The City has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. The City has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.