Audit 342093

Title: General Accounting Policies: The Schedule of Expenditures of Federal Awards presents the activity of all federal award programs of the Town of Jonesboro as defined in Note 1 to the financial statements. All federal award programs received directly from federal agencies, as well as federal awards through other government agencies, are included on the schedule. De Minimis Rate Used: Y Rate Explanation: The auditee used the de minimis cost rate The Schedule of Expenditures of Federal Awards presents the activity of all federal award programs of the Town of Jonesboro as defined in Note 1 to the financial statements. All federal award programs received directly from federal agencies, as well as federal awards through other government agencies, are included on the schedule.

Title: Basis of Accounting Accounting Policies: The Schedule of Expenditures of Federal Awards presents the activity of all federal award programs of the Town of Jonesboro as defined in Note 1 to the financial statements. All federal award programs received directly from federal agencies, as well as federal awards through other government agencies, are included on the schedule. De Minimis Rate Used: Y Rate Explanation: The auditee used the de minimis cost rate The Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of accounting, which is described in Note 1 to the Town’s financial statements. 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). Therefore, some amounts presented in this schedule may differ from amounts in or used in the preparation of the financial statements.

Title: Indirect Cost Rate Accounting Policies: The Schedule of Expenditures of Federal Awards presents the activity of all federal award programs of the Town of Jonesboro as defined in Note 1 to the financial statements. All federal award programs received directly from federal agencies, as well as federal awards through other government agencies, are included on the schedule. De Minimis Rate Used: Y Rate Explanation: The auditee used the de minimis cost rate The Town has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.