Audit 326016

Title: Basis of Presentation Accounting Policies: Expenditures reported on the Schedule are reported on the accrual or modified accrual basis of accounting. 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. Pass-through entity identifying numbers are presented where available. The underlying accounting records for some grant programs are maintained on the modified accrual basis of accounting. Under the modified accrual basis, revenues are recorded when susceptible to accrual, i.e., both measurable and available. Available means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. Expenditures are recorded when the liability is incurred. The accounting records for other grant programs are maintained on the accrual basis, i.e., when the revenue has been earned and the liability is incurred. De Minimis Rate Used: N Rate Explanation: The City of Bloomington has not elected to use the 10% de minimus indirect cost rate. The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the City of Bloomington under programs of the federal government for the year ended April 30, 2024. 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 the operations of the City of Bloomington, it is not intended to and does not present the financial position, changes in net position or cash flows of the City of Bloomington.

Title: Subrecipients Accounting Policies: Expenditures reported on the Schedule are reported on the accrual or modified accrual basis of accounting. 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. Pass-through entity identifying numbers are presented where available. The underlying accounting records for some grant programs are maintained on the modified accrual basis of accounting. Under the modified accrual basis, revenues are recorded when susceptible to accrual, i.e., both measurable and available. Available means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. Expenditures are recorded when the liability is incurred. The accounting records for other grant programs are maintained on the accrual basis, i.e., when the revenue has been earned and the liability is incurred. De Minimis Rate Used: N Rate Explanation: The City of Bloomington has not elected to use the 10% de minimus indirect cost rate. Of the federal expenditures presented in the Schedule, the City of Bloomington provided federal awards to subrecipients as follows: Grant Program/Subrecipient Assistance Listing Amount Community Development Block Grants/Entitlement Grants: 14.218 Housing Authority of the City of Bloomington $ 5,090 KTB Financial Services 16,500 McLean County Regional Planning Commission 34,751 Mid Central Community Action 29,000 OSF Healthcare 3,750 Partners for Community for Recycling for Families 5,000 Personal Assistance Telephone Help Inc. 33,616 Prairie Legal Services 13,585 West Bloomington Revitalization Project 8,721 Total Community Development Block Grants/Entitlement Grants 150,013 (ARPA) Coronavirus State & Local Fiscal Recovery Funds: 21.027 Salvation Army 150,000 Project OZ 250,000 Mid Central Community Action 71,731 YWCA McLean County 250,000 Home Sweet Home Ministries 150,000 McLean County Center for Human Services 150,000 Total (ARPA) Coronavirus State & Local Fiscal Recovery Funds 1,021,731 Total passed through to subrecipients $ 1,171,744