Title: Note 1: Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of Federal awards includes the Federal award activity of the City, under programs of the federal government for the year ended June 30, 2023 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, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the City.
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 and OMB Circular A-87, Cost Principles for State Local and Indian Tribal Governments, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The City has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of Federal awards includes the Federal award activity of the City, under programs of the federal government for the year ended June 30, 2023 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, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the City.
Title: Note 2: Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of Federal awards includes the Federal award activity of the City, under programs of the federal government for the year ended June 30, 2023 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, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the City.
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 and OMB Circular A-87, Cost Principles for State Local and Indian Tribal Governments, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The City has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Basis of Accounting: 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 and OMB Circular A-87, Cost Principles for State Local and Indian Tribal Governments, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
Title: Note 3: Indirect Cost Rate
Accounting Policies: The accompanying schedule of expenditures of Federal awards includes the Federal award activity of the City, under programs of the federal government for the year ended June 30, 2023 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, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the City.
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 and OMB Circular A-87, Cost Principles for State Local and Indian Tribal Governments, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The City has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The City has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: Note 4: Loans and Loan Guarantees
Accounting Policies: The accompanying schedule of expenditures of Federal awards includes the Federal award activity of the City, under programs of the federal government for the year ended June 30, 2023 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, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the City.
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 and OMB Circular A-87, Cost Principles for State Local and Indian Tribal Governments, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The City has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The schedule of expenditures of federal awards includes the following loan and loan guarantee amounts as of June 30, 2023: