Title: Note 2. Non-Cash Assistance
Accounting Policies: a. Basis of Presentation
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of the City of Oneonta, New York (City) 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 the Comptroller General of the United States and the audit 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). The purpose of the Schedule is to present a summary of those activities of the City funded by the federal government or pass-through entities for the year ended December 31, 2023, using the accrual basis of accounting. For purposes of the Schedule, federal awards include assistance provided by a federal agency, directly or indirectly, in the form of grants, contracts, cooperative agreements, loans and loan guarantees, and other non-cash assistance.
Negative amounts, if any, on the Schedule represent adjustments or credits made to prior-year expenditures in the normal course of business.
b. Relationship to Financial Statements
Federal award revenues are reported in the City’s financial statements as federal aid. The City’s financial statements are presented using the accrual basis of accounting. The Schedule presents only a selected portion of the activities of the City. It is not intended to, and does not, present the financial position, statement of activities, or other changes in net assets of the City.
c. Direct and Indirect Costs
Expenditures for direct and indirect costs are recognized as incurred using the accrual method of accounting and in accordance with Office of Management and Budget Circular A-87, Cost Principles for State, Local and Indian Tribal Governments, or the cost principles contained in the Uniform Guidance. Under those cost principles, certain types of expenditures are not allowable or are limited as to reimbursement. The City has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
d. Matching Costs
Matching costs represent the City’s share of certain program costs and are not included in the Schedule.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
There were no federal awards expended in the form of non-cash assistance by the City during the year ended December 31, 2023.
Title: Note 3. Loans and Loan Guarantees
Accounting Policies: a. Basis of Presentation
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of the City of Oneonta, New York (City) 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 the Comptroller General of the United States and the audit 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). The purpose of the Schedule is to present a summary of those activities of the City funded by the federal government or pass-through entities for the year ended December 31, 2023, using the accrual basis of accounting. For purposes of the Schedule, federal awards include assistance provided by a federal agency, directly or indirectly, in the form of grants, contracts, cooperative agreements, loans and loan guarantees, and other non-cash assistance.
Negative amounts, if any, on the Schedule represent adjustments or credits made to prior-year expenditures in the normal course of business.
b. Relationship to Financial Statements
Federal award revenues are reported in the City’s financial statements as federal aid. The City’s financial statements are presented using the accrual basis of accounting. The Schedule presents only a selected portion of the activities of the City. It is not intended to, and does not, present the financial position, statement of activities, or other changes in net assets of the City.
c. Direct and Indirect Costs
Expenditures for direct and indirect costs are recognized as incurred using the accrual method of accounting and in accordance with Office of Management and Budget Circular A-87, Cost Principles for State, Local and Indian Tribal Governments, or the cost principles contained in the Uniform Guidance. Under those cost principles, certain types of expenditures are not allowable or are limited as to reimbursement. The City has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
d. Matching Costs
Matching costs represent the City’s share of certain program costs and are not included in the Schedule.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The City had no federal loans or federal loan guarantees outstanding as of December 31, 2023.
Title: Note 4. Insurance
Accounting Policies: a. Basis of Presentation
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of the City of Oneonta, New York (City) 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 the Comptroller General of the United States and the audit 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). The purpose of the Schedule is to present a summary of those activities of the City funded by the federal government or pass-through entities for the year ended December 31, 2023, using the accrual basis of accounting. For purposes of the Schedule, federal awards include assistance provided by a federal agency, directly or indirectly, in the form of grants, contracts, cooperative agreements, loans and loan guarantees, and other non-cash assistance.
Negative amounts, if any, on the Schedule represent adjustments or credits made to prior-year expenditures in the normal course of business.
b. Relationship to Financial Statements
Federal award revenues are reported in the City’s financial statements as federal aid. The City’s financial statements are presented using the accrual basis of accounting. The Schedule presents only a selected portion of the activities of the City. It is not intended to, and does not, present the financial position, statement of activities, or other changes in net assets of the City.
c. Direct and Indirect Costs
Expenditures for direct and indirect costs are recognized as incurred using the accrual method of accounting and in accordance with Office of Management and Budget Circular A-87, Cost Principles for State, Local and Indian Tribal Governments, or the cost principles contained in the Uniform Guidance. Under those cost principles, certain types of expenditures are not allowable or are limited as to reimbursement. The City has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
d. Matching Costs
Matching costs represent the City’s share of certain program costs and are not included in the Schedule.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The City did not participate in any federal insurance programs during the year ended December 31, 2023.
Title: Note 5. Subrecipients
Accounting Policies: a. Basis of Presentation
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of the City of Oneonta, New York (City) 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 the Comptroller General of the United States and the audit 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). The purpose of the Schedule is to present a summary of those activities of the City funded by the federal government or pass-through entities for the year ended December 31, 2023, using the accrual basis of accounting. For purposes of the Schedule, federal awards include assistance provided by a federal agency, directly or indirectly, in the form of grants, contracts, cooperative agreements, loans and loan guarantees, and other non-cash assistance.
Negative amounts, if any, on the Schedule represent adjustments or credits made to prior-year expenditures in the normal course of business.
b. Relationship to Financial Statements
Federal award revenues are reported in the City’s financial statements as federal aid. The City’s financial statements are presented using the accrual basis of accounting. The Schedule presents only a selected portion of the activities of the City. It is not intended to, and does not, present the financial position, statement of activities, or other changes in net assets of the City.
c. Direct and Indirect Costs
Expenditures for direct and indirect costs are recognized as incurred using the accrual method of accounting and in accordance with Office of Management and Budget Circular A-87, Cost Principles for State, Local and Indian Tribal Governments, or the cost principles contained in the Uniform Guidance. Under those cost principles, certain types of expenditures are not allowable or are limited as to reimbursement. The City has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
d. Matching Costs
Matching costs represent the City’s share of certain program costs and are not included in the Schedule.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The City did not provide any funding to subrecipients during the year ended December 31, 2023.