Title: Note 1. Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the modified accrual basis of accounting
De Minimis Rate Used: N
Rate Explanation: The programs did not permit reimbursement for indirect costs.
This schedule includes the federal grant activity of the City of Mustang, Oklahoma under programs of the federal government for
Title: Note 1. Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the modified accrual basis of accounting
De Minimis Rate Used: N
Rate Explanation: The programs did not permit reimbursement for indirect costs.
the year ended June 30, 2024. The information in this schedule is presented in accordance with the requirements of the Office of
Title: Note 1. Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the modified accrual basis of accounting
De Minimis Rate Used: N
Rate Explanation: The programs did not permit reimbursement for indirect costs.
Management and Budget (OMB) Uniform Guidance. Because the schedule presents only a selected portion of the operations of the
Title: Note 1. Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the modified accrual basis of accounting
De Minimis Rate Used: N
Rate Explanation: The programs did not permit reimbursement for indirect costs.
City of Mustang, Oklahoma, it is not intended to and does not present the financial position, changes in net position or cash flows of
Title: Note 1. Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the modified accrual basis of accounting
De Minimis Rate Used: N
Rate Explanation: The programs did not permit reimbursement for indirect costs.
the City of Mustang, Oklahoma.
Title: Note 2. Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the modified accrual basis of accounting
De Minimis Rate Used: N
Rate Explanation: The programs did not permit reimbursement for indirect costs.
Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the modified accrual basis of accounting
Title: Note 2. Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the modified accrual basis of accounting
De Minimis Rate Used: N
Rate Explanation: The programs did not permit reimbursement for indirect costs.
which may be different from other information contained in the City’s financial statements.
Title: Note 3. De Minimis Indirect Cost Rate
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the modified accrual basis of accounting
De Minimis Rate Used: N
Rate Explanation: The programs did not permit reimbursement for indirect costs.
The 10% de minimis indirect cost rate as covered in 2 CFR section 200.414 of the Uniform Guidance was not used as the programs
Title: Note 3. De Minimis Indirect Cost Rate
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the modified accrual basis of accounting
De Minimis Rate Used: N
Rate Explanation: The programs did not permit reimbursement for indirect costs.
listed above were not eligible for indirect cost reimbursement.