Title: Note A - Basis of Presentation
Accounting Policies: The accompanying schedule of federal awards includes the federal grant awards of the Assumption Parish Police Jury and is presented on the modified accrual basis of accounting. 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.
De Minimis Rate Used: N
Rate Explanation: The Police Jury used direct costs for all federal awards expended.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Assumption Parish Police Jury and is presented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards.
Title: Note B - Reconciliation of Federal Expenditures to Financial Statements
Accounting Policies: The accompanying schedule of federal awards includes the federal grant awards of the Assumption Parish Police Jury and is presented on the modified accrual basis of accounting. 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.
De Minimis Rate Used: N
Rate Explanation: The Police Jury used direct costs for all federal awards expended.
As expenditure driven grants, the expenditures equal or exceed the amount of federal grant revenue recognized. Revenues are recognized as follows:
Federal assistance expended as reported on Schedule of Expenditures of Federal Awards $5,803,188
FEMA prior year overpayment, net ($ 2,789)
FEMA revenue accrued in prior year but obligated in current year for Hurricane Ida expenses ($ 10,907)
Emergency Management Performance Grant received in current year but expended in prior year $26,562
Section 8 Housing revenue received in current year but not expended $7,810
Water Sector Program pre-award expenses $302,576
GOMESA funds received in current year but not expended in current year $175,385
GOMESA 2021 bond proceeds funded by GOMESA funds spent in current year $(3,077,862)
Federal grant revenues $3,223,963
Federal grants as reported on Statement of Revenues, Expenditures, and Changes in Fund Balances - Governmental Funds $3,199,733
Federal grants as reported on Statement of Revenues, Expenses, and Changes in Net Position - Proprietary Funds $24,230
$3,223,963
Title: Note C - Indirect Cost Rate
Accounting Policies: The accompanying schedule of federal awards includes the federal grant awards of the Assumption Parish Police Jury and is presented on the modified accrual basis of accounting. 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.
De Minimis Rate Used: N
Rate Explanation: The Police Jury used direct costs for all federal awards expended.
Assumption Parish Police Jury has not elected to use the 10 percent de minimus indirect cost rate as allowed under the Uniform Guidance.