Title: Basis of Presentation
Accounting Policies: Expenditures of federal awards are recognized 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 City elected not to use the 10% de minimis indirect 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 Springfield, Missouri (the City) under programs of the federal government for the year ended June 30, 2024. The Schedule does not include the federal grant activity of the City Utilities, the discretely presented component unit of the City. 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 City, it is not intended to and does not present the financial position, changes in net position or cash flows of the City.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures of federal awards are recognized 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 City elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures of federal awards are recognized 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: Local Government Contributions
Accounting Policies: Expenditures of federal awards are recognized 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 City elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Local cost-sharing is required by certain federal grants. The amount of cost-sharing varies by program. Only the federal share of expenditures is presented in the schedule.
Title: Relationship to Basic Financial Statements
Accounting Policies: Expenditures of federal awards are recognized 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 City elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Federal award revenues and contributions are reported in the City's basic financial statements as follows. See the Notes to the SEFA for chart/table.
Title: Federal Expenditures for MoDOT and Greene County Managed Projects
Accounting Policies: Expenditures of federal awards are recognized 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 City elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Certain highway and construction projects funded with federal awards are performed in conjunction with the Missouri Department of Transportation (MoDOT) and Greene County. MoDOT and Greene County lead some joint projects, incurring all expenditures and handling the reimbursement requests. In these instances, the City authorizes MoDOT and Greene County to use its awarded federal monies to complete the project. MoDOT and Greene County both accept responsibility for any compliance requirements related to the federal monies utilized for the project. The City does not actually expend the monies or receive reimbursement. Due to these factors, the MoDOT and Greene County led projects are not presented on the schedule.
During the fiscal year ended June 30, 2024, the following federal monies awarded to the City were expended on joint projects with MoDOT and Greene County. See the Notes to the SEFA for chart/table.
Title: Outstanding Loan Principal Balances and Expenditures of Federal Awards
Accounting Policies: Expenditures of federal awards are recognized 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 City elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The following is a list of the outstanding principal balances related to program loans at June 30, 2024, because there are no continuing compliance requirements, the outstanding balances have not been included in the SEFA. See the Notes to the SEFA for chart/table.
Title: Indirect Cost Rate
Accounting Policies: Expenditures of federal awards are recognized 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 City elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The City elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.