Title: Note 1: Basis of Presentation
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the City's federal grant activity and is presented on the modified accrual basis of accounting in accordance with generally accepted accounting principles. Accordingly, revenues are recognized when the qualifiying expenditure has been incurred and expenditures have been recognized when the fund liability has been incurred. 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).
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. Direct (actual) costs were used.
The accompanying Schedule of Expenditures of Federal Awards includes the City's federal grant activity and is presented on the modified accrual basis of accounting in accordance with generally accepted accounting principles. Accordingly, revenues are recognized when the qualifiying expenditure has been incurred and expenditures have been recognized when the fund liability has been incurred. 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).
Title: Note 2: Subrecipients
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the City's federal grant activity and is presented on the modified accrual basis of accounting in accordance with generally accepted accounting principles. Accordingly, revenues are recognized when the qualifiying expenditure has been incurred and expenditures have been recognized when the fund liability has been incurred. 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).
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. Direct (actual) costs were used.
There were no subrecipients for the fiscal year ending April 30, 2022.
Title: Note 3: Non-Cash Assistance and Insurance
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the City's federal grant activity and is presented on the modified accrual basis of accounting in accordance with generally accepted accounting principles. Accordingly, revenues are recognized when the qualifiying expenditure has been incurred and expenditures have been recognized when the fund liability has been incurred. 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).
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. Direct (actual) costs were used.
The City did not receive any federal non-cash assistance or federal insurance for the year ended April 30, 2022.
Title: Note 4: Loans and Loan Guarantee Programs
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the City's federal grant activity and is presented on the modified accrual basis of accounting in accordance with generally accepted accounting principles. Accordingly, revenues are recognized when the qualifiying expenditure has been incurred and expenditures have been recognized when the fund liability has been incurred. 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).
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. Direct (actual) costs were used.
The City did not have any loans or loan guarantee programs outstanding as of April 30, 2022.
Title: Note 5: Other Information
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the City's federal grant activity and is presented on the modified accrual basis of accounting in accordance with generally accepted accounting principles. Accordingly, revenues are recognized when the qualifiying expenditure has been incurred and expenditures have been recognized when the fund liability has been incurred. 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).
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. Direct (actual) costs were used.
The City did not elect to use the 10% de minimis indirect cost rate.