Audit 320160

Title: Basis of Presentatiom Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: City of Mountain View, Arkansas Water and Wastewater Department did not elect to apply the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of City of Mountain View, Arkansas Water and Wastewater Department 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 City of Mountain View, Arkansas Water and Wastewater Department, it is not intended to and does not present the net position, changes in net position, or cash flows of City of Mountain View, Arkansas Water and Wastewater Department.