Title: Summary of Significant Accounting Policies
Accounting Policies: Basis of Presentation The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the City under programs of the federal government for the year ended September 30, 2024. The information in this Schedule is presented in accordance with 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 City, it is not intended to and does not present the financial position, changes in net position, or cash flows of the City. The Uniform Guidance requires a schedule that provides total federal awards expended for each federal program and the Catalog of Federal Domestic Assistance (CFDA) number or other identifying number when the CFDA information is not available. The Schedule includes all federal awards administered by City of Tipton, Missouri, Missouri. OMB Compliance Supplement includes these definitions, which govern the contents of the Schedule: Federal financial assistance means assistance that non-Federal entities receive or administer in the form of grants, loans, loan guarantees, property (including donated surplus property), cooperative agreements, interest subsidies, insurance, food, commodities, direct appropriations, and other assistance, but does not include amounts received as reimbursement for services rendered to individuals. Federal award means Federal financial assistance and Federal cost-reimbursement contracts that non-Federal entities receive directly from Federal awarding agencies or indirectly from pass-through entities. It does not include procurement contracts, under-grants or contracts, used to buy goods or services from vendors. Accordingly, the Schedule includes expenditures of both cash and noncash awards. Basis of Accounting Expenditures reported on the Schedule are reported on the generally accepted accounting principles, which is described in Note 1 to the City’s basic financial statements. The City has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. Subrecipients - The City provided no federal awards to subrecipients during the year ended September 30, 2024.
De Minimis Rate Used: N
Rate Explanation: THE CITY USED THE INDIRECT COST RATE ESTABLISHED BY THE STATE OF MISSOURI
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the City under programs of the federal government for the year ended September 30, 2024. The information in this Schedule is presented in accordance with 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 City, it is not intended to and does not present the financial position, changes in net position, or cash flows of the City. The Uniform Guidance requires a schedule that provides total federal awards expended for each federal program and the Catalog of Federal Domestic Assistance (CFDA) number or other identifying number when the CFDA information is not available.
Title: Basis of Presentation
Accounting Policies: Basis of Presentation The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the City under programs of the federal government for the year ended September 30, 2024. The information in this Schedule is presented in accordance with 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 City, it is not intended to and does not present the financial position, changes in net position, or cash flows of the City. The Uniform Guidance requires a schedule that provides total federal awards expended for each federal program and the Catalog of Federal Domestic Assistance (CFDA) number or other identifying number when the CFDA information is not available. The Schedule includes all federal awards administered by City of Tipton, Missouri, Missouri. OMB Compliance Supplement includes these definitions, which govern the contents of the Schedule: Federal financial assistance means assistance that non-Federal entities receive or administer in the form of grants, loans, loan guarantees, property (including donated surplus property), cooperative agreements, interest subsidies, insurance, food, commodities, direct appropriations, and other assistance, but does not include amounts received as reimbursement for services rendered to individuals. Federal award means Federal financial assistance and Federal cost-reimbursement contracts that non-Federal entities receive directly from Federal awarding agencies or indirectly from pass-through entities. It does not include procurement contracts, under-grants or contracts, used to buy goods or services from vendors. Accordingly, the Schedule includes expenditures of both cash and noncash awards. Basis of Accounting Expenditures reported on the Schedule are reported on the generally accepted accounting principles, which is described in Note 1 to the City’s basic financial statements. The City has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. Subrecipients - The City provided no federal awards to subrecipients during the year ended September 30, 2024.
De Minimis Rate Used: N
Rate Explanation: THE CITY USED THE INDIRECT COST RATE ESTABLISHED BY THE STATE OF MISSOURI
The Schedule includes all federal awards administered by City of Tipton, Missouri, Missouri.
Title: Basis of Presentation
Accounting Policies: Basis of Presentation The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the City under programs of the federal government for the year ended September 30, 2024. The information in this Schedule is presented in accordance with 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 City, it is not intended to and does not present the financial position, changes in net position, or cash flows of the City. The Uniform Guidance requires a schedule that provides total federal awards expended for each federal program and the Catalog of Federal Domestic Assistance (CFDA) number or other identifying number when the CFDA information is not available. The Schedule includes all federal awards administered by City of Tipton, Missouri, Missouri. OMB Compliance Supplement includes these definitions, which govern the contents of the Schedule: Federal financial assistance means assistance that non-Federal entities receive or administer in the form of grants, loans, loan guarantees, property (including donated surplus property), cooperative agreements, interest subsidies, insurance, food, commodities, direct appropriations, and other assistance, but does not include amounts received as reimbursement for services rendered to individuals. Federal award means Federal financial assistance and Federal cost-reimbursement contracts that non-Federal entities receive directly from Federal awarding agencies or indirectly from pass-through entities. It does not include procurement contracts, under-grants or contracts, used to buy goods or services from vendors. Accordingly, the Schedule includes expenditures of both cash and noncash awards. Basis of Accounting Expenditures reported on the Schedule are reported on the generally accepted accounting principles, which is described in Note 1 to the City’s basic financial statements. The City has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. Subrecipients - The City provided no federal awards to subrecipients during the year ended September 30, 2024.
De Minimis Rate Used: N
Rate Explanation: THE CITY USED THE INDIRECT COST RATE ESTABLISHED BY THE STATE OF MISSOURI
OMB Compliance Supplement includes these definitions, which govern the contents of the Schedule: Federal financial assistance means assistance that non-Federal entities receive or administer in the form of grants, loans, loan guarantees, property (including donated surplus property), cooperative agreements, interest subsidies, insurance, food, commodities, direct appropriations, and other assistance, but does not include amounts received as reimbursement for services rendered to individuals. Federal award means Federal financial assistance and Federal cost-reimbursement contracts that non-Federal entities receive directly from Federal awarding agencies or indirectly from pass-through entities. It does not include procurement contracts, under-grants or contracts, used to buy goods or services from vendors.
Title: Basis of Presentation
Accounting Policies: Basis of Presentation The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the City under programs of the federal government for the year ended September 30, 2024. The information in this Schedule is presented in accordance with 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 City, it is not intended to and does not present the financial position, changes in net position, or cash flows of the City. The Uniform Guidance requires a schedule that provides total federal awards expended for each federal program and the Catalog of Federal Domestic Assistance (CFDA) number or other identifying number when the CFDA information is not available. The Schedule includes all federal awards administered by City of Tipton, Missouri, Missouri. OMB Compliance Supplement includes these definitions, which govern the contents of the Schedule: Federal financial assistance means assistance that non-Federal entities receive or administer in the form of grants, loans, loan guarantees, property (including donated surplus property), cooperative agreements, interest subsidies, insurance, food, commodities, direct appropriations, and other assistance, but does not include amounts received as reimbursement for services rendered to individuals. Federal award means Federal financial assistance and Federal cost-reimbursement contracts that non-Federal entities receive directly from Federal awarding agencies or indirectly from pass-through entities. It does not include procurement contracts, under-grants or contracts, used to buy goods or services from vendors. Accordingly, the Schedule includes expenditures of both cash and noncash awards. Basis of Accounting Expenditures reported on the Schedule are reported on the generally accepted accounting principles, which is described in Note 1 to the City’s basic financial statements. The City has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. Subrecipients - The City provided no federal awards to subrecipients during the year ended September 30, 2024.
De Minimis Rate Used: N
Rate Explanation: THE CITY USED THE INDIRECT COST RATE ESTABLISHED BY THE STATE OF MISSOURI
Accordingly, the Schedule includes expenditures of both cash and noncash awards.
Title: Basis of Accounting
Accounting Policies: Basis of Presentation The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the City under programs of the federal government for the year ended September 30, 2024. The information in this Schedule is presented in accordance with 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 City, it is not intended to and does not present the financial position, changes in net position, or cash flows of the City. The Uniform Guidance requires a schedule that provides total federal awards expended for each federal program and the Catalog of Federal Domestic Assistance (CFDA) number or other identifying number when the CFDA information is not available. The Schedule includes all federal awards administered by City of Tipton, Missouri, Missouri. OMB Compliance Supplement includes these definitions, which govern the contents of the Schedule: Federal financial assistance means assistance that non-Federal entities receive or administer in the form of grants, loans, loan guarantees, property (including donated surplus property), cooperative agreements, interest subsidies, insurance, food, commodities, direct appropriations, and other assistance, but does not include amounts received as reimbursement for services rendered to individuals. Federal award means Federal financial assistance and Federal cost-reimbursement contracts that non-Federal entities receive directly from Federal awarding agencies or indirectly from pass-through entities. It does not include procurement contracts, under-grants or contracts, used to buy goods or services from vendors. Accordingly, the Schedule includes expenditures of both cash and noncash awards. Basis of Accounting Expenditures reported on the Schedule are reported on the generally accepted accounting principles, which is described in Note 1 to the City’s basic financial statements. The City has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. Subrecipients - The City provided no federal awards to subrecipients during the year ended September 30, 2024.
De Minimis Rate Used: N
Rate Explanation: THE CITY USED THE INDIRECT COST RATE ESTABLISHED BY THE STATE OF MISSOURI
Expenditures reported on the Schedule are reported on the generally accepted accounting principles, which is described in Note 1 to the City’s basic financial statements.
Title: Basis of Accounting
Accounting Policies: Basis of Presentation The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the City under programs of the federal government for the year ended September 30, 2024. The information in this Schedule is presented in accordance with 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 City, it is not intended to and does not present the financial position, changes in net position, or cash flows of the City. The Uniform Guidance requires a schedule that provides total federal awards expended for each federal program and the Catalog of Federal Domestic Assistance (CFDA) number or other identifying number when the CFDA information is not available. The Schedule includes all federal awards administered by City of Tipton, Missouri, Missouri. OMB Compliance Supplement includes these definitions, which govern the contents of the Schedule: Federal financial assistance means assistance that non-Federal entities receive or administer in the form of grants, loans, loan guarantees, property (including donated surplus property), cooperative agreements, interest subsidies, insurance, food, commodities, direct appropriations, and other assistance, but does not include amounts received as reimbursement for services rendered to individuals. Federal award means Federal financial assistance and Federal cost-reimbursement contracts that non-Federal entities receive directly from Federal awarding agencies or indirectly from pass-through entities. It does not include procurement contracts, under-grants or contracts, used to buy goods or services from vendors. Accordingly, the Schedule includes expenditures of both cash and noncash awards. Basis of Accounting Expenditures reported on the Schedule are reported on the generally accepted accounting principles, which is described in Note 1 to the City’s basic financial statements. The City has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. Subrecipients - The City provided no federal awards to subrecipients during the year ended September 30, 2024.
De Minimis Rate Used: N
Rate Explanation: THE CITY USED THE INDIRECT COST RATE ESTABLISHED BY THE STATE OF MISSOURI
The City has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: Basis of Accounting
Accounting Policies: Basis of Presentation The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the City under programs of the federal government for the year ended September 30, 2024. The information in this Schedule is presented in accordance with 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 City, it is not intended to and does not present the financial position, changes in net position, or cash flows of the City. The Uniform Guidance requires a schedule that provides total federal awards expended for each federal program and the Catalog of Federal Domestic Assistance (CFDA) number or other identifying number when the CFDA information is not available. The Schedule includes all federal awards administered by City of Tipton, Missouri, Missouri. OMB Compliance Supplement includes these definitions, which govern the contents of the Schedule: Federal financial assistance means assistance that non-Federal entities receive or administer in the form of grants, loans, loan guarantees, property (including donated surplus property), cooperative agreements, interest subsidies, insurance, food, commodities, direct appropriations, and other assistance, but does not include amounts received as reimbursement for services rendered to individuals. Federal award means Federal financial assistance and Federal cost-reimbursement contracts that non-Federal entities receive directly from Federal awarding agencies or indirectly from pass-through entities. It does not include procurement contracts, under-grants or contracts, used to buy goods or services from vendors. Accordingly, the Schedule includes expenditures of both cash and noncash awards. Basis of Accounting Expenditures reported on the Schedule are reported on the generally accepted accounting principles, which is described in Note 1 to the City’s basic financial statements. The City has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. Subrecipients - The City provided no federal awards to subrecipients during the year ended September 30, 2024.
De Minimis Rate Used: N
Rate Explanation: THE CITY USED THE INDIRECT COST RATE ESTABLISHED BY THE STATE OF MISSOURI
Subrecipients - The City provided no federal awards to subrecipients during the year ended September 30, 2024.