Audit 332148

Title: Note 1.  Basis of Presentation Accounting Policies: 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,  wherein  certain  types  of  expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: The District has not elected to utilize the ten percent de minimis indirect cost rate as of June 30, 2024. The  accompanying  schedule  of  expenditures  of  federal  awards  (the  “Schedule”)  includes  the  federal  award  activity of Greenwood Metropolitan District (the “District”) under programs of the federal government for the year ended June 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  District,  it  is  not  intended  to  and  does  not  present  the  financial  position,  changes in net position or cash flows of the District.

Title: Note 2.  Summary of Significant Accounting Policies for Federal Awards Accounting Policies: 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,  wherein  certain  types  of  expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: The District has not elected to utilize the ten percent de minimis indirect cost rate as of June 30, 2024. 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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.

Title: Note 3.  Indirect Cost Rate Accounting Policies: 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,  wherein  certain  types  of  expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: The District has not elected to utilize the ten percent de minimis indirect cost rate as of June 30, 2024. The District has not elected to utilize the ten percent de minimis indirect cost rate as of June 30, 2024.