Title: Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the City of Bonham, Texas (the City) under programs of the federal government for the fiscal year ended September 30, 2023. The information in this schedule is and does not present the fmancial position, changes in net assets, or cash flows of the City.Standards. Because the Schedule presents only a selected portion of the operations of the City, it is not intended to presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and the State of Texas Uniform Grant Management Standards. Because the Schedule presents only a selected portion of the operations of the City, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the City.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10-percent de minimis cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the City of Bonham, Texas (the City) under programs of the federal government for the fiscal year ended September 30, 2023. 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, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and the State of Texas Uniform Grant Management Standards. Because the schedule presents only a selected portion fo the operations of the City, it is not intended and does not present the financial position, changes in assets, or cash flows of the City.
Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the City of Bonham, Texas (the City) under programs of the federal government for the fiscal year ended September 30, 2023. The information in this schedule is and does not present the fmancial position, changes in net assets, or cash flows of the City.Standards. Because the Schedule presents only a selected portion of the operations of the City, it is not intended to presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and the State of Texas Uniform Grant Management Standards. Because the Schedule presents only a selected portion of the operations of the City, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the City.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10-percent de minimis cost rate allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the 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.
Title: Indirect Cost Rate
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the City of Bonham, Texas (the City) under programs of the federal government for the fiscal year ended September 30, 2023. The information in this schedule is and does not present the fmancial position, changes in net assets, or cash flows of the City.Standards. Because the Schedule presents only a selected portion of the operations of the City, it is not intended to presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and the State of Texas Uniform Grant Management Standards. Because the Schedule presents only a selected portion of the operations of the City, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the City.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10-percent de minimis cost rate allowed under the Uniform Guidance.
The City has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Program Costs / Matching Contributions
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the City of Bonham, Texas (the City) under programs of the federal government for the fiscal year ended September 30, 2023. The information in this schedule is and does not present the fmancial position, changes in net assets, or cash flows of the City.Standards. Because the Schedule presents only a selected portion of the operations of the City, it is not intended to presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and the State of Texas Uniform Grant Management Standards. Because the Schedule presents only a selected portion of the operations of the City, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the City.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10-percent de minimis cost rate allowed under the Uniform Guidance.
The amounts shown as current year expenses represent only the federal grant portion of the program costs. Entire program costs, including the City's portion, may be more than shown.
Title: Outstanding Certificates of Obligation
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the City of Bonham, Texas (the City) under programs of the federal government for the fiscal year ended September 30, 2023. The information in this schedule is and does not present the fmancial position, changes in net assets, or cash flows of the City.Standards. Because the Schedule presents only a selected portion of the operations of the City, it is not intended to presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and the State of Texas Uniform Grant Management Standards. Because the Schedule presents only a selected portion of the operations of the City, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the City.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10-percent de minimis cost rate allowed under the Uniform Guidance.
Federal awards included proceeds of Certificates of Obligation from the U.S. Environmental Protection Agency passed through the Texas Water Development Board (Assistance Listing #'s 66.468 and 66.458). The Certificates of Obligation were originally issued during the fiscal year of 2019 for $4,810,000 and $9,830,000. The funds drawn from during 2019-20. At September 30, 2023, the total outstanding balance was $12,990,000.