Title: GENERAL
Accounting Policies: Expenditures presented on the Schedule are reported on the cash basis of accounting. 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. The financial transactions are recorded by the Office accordance with the terms and conditions of the
grants, which are consistent with US GAAP. Expenditures for Public Assistance Grants (FEMA) are recognized in the period
under: (1) FEMA has approved the PW, and (2) eligible expenditures are incurred
De Minimis Rate Used: N
Rate Explanation: The Office has elected not to use the 10% de minimis cost rate and did not charge indirect cost to federal grants during the year ended June 30, 2024.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the funds expended by the State Historic Preservation Office (Office) from all federal programs for the year ended June 30, 2024. The Office’s reporting entity is defined in Note 1 to the financial statements.
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures presented on the Schedule are reported on the cash basis of accounting. 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. The financial transactions are recorded by the Office accordance with the terms and conditions of the
grants, which are consistent with US GAAP. Expenditures for Public Assistance Grants (FEMA) are recognized in the period
under: (1) FEMA has approved the PW, and (2) eligible expenditures are incurred
De Minimis Rate Used: N
Rate Explanation: The Office has elected not to use the 10% de minimis cost rate and did not charge indirect cost to federal grants during the year ended June 30, 2024.
The accompanying Schedule of Expenditures of Federal Awards 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 of the amounts presented in the Schedule may differ from the amounts presented in, or used in the presentation of, the financial statements. Because the Schedule presents only a selected portion of the operations of the Office, it is not intended to and does not present the financial position and changes in net position of the Office.
Title: SUMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures presented on the Schedule are reported on the cash basis of accounting. 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. The financial transactions are recorded by the Office accordance with the terms and conditions of the
grants, which are consistent with US GAAP. Expenditures for Public Assistance Grants (FEMA) are recognized in the period
under: (1) FEMA has approved the PW, and (2) eligible expenditures are incurred
De Minimis Rate Used: N
Rate Explanation: The Office has elected not to use the 10% de minimis cost rate and did not charge indirect cost to federal grants during the year ended June 30, 2024.
Expenditures presented on the Schedule are reported on the cash basis of accounting. 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. The financial transactions are recorded by the Office accordance with the terms and conditions of the grants, which are consistent with US GAAP. Expenditures for Public Assistance Grants (FEMA) are recognized in the period under: (1) FEMA has approved the PW, and (2) eligible expenditures are incurred. The Federal Assistance Listing Number (ALN), formerly known as Catalog of Federal Domestic Assistance Number (CFDA), is a program identification number. The first two digits identify the federal department of agency that administers the program, and the last three numbers are assigned by numerical sequence. State or local government redistributions of federal awards to the Office, known as “pass–through awards”, should be treated by the Agency as though they were received directly from the federal government. The Uniform Guidance requires the schedule to include the name of the “pass-through entity” and the identifying number assigned by the “pass-through entity” for the federal awards received as a sub recipient. Numbers identified as N/A are not applicable and numbers identified as N/AV are not available.
Title: RECONCILIATION TO THE FINANCIAL STATEMENTS
Accounting Policies: Expenditures presented on the Schedule are reported on the cash basis of accounting. 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. The financial transactions are recorded by the Office accordance with the terms and conditions of the
grants, which are consistent with US GAAP. Expenditures for Public Assistance Grants (FEMA) are recognized in the period
under: (1) FEMA has approved the PW, and (2) eligible expenditures are incurred
De Minimis Rate Used: N
Rate Explanation: The Office has elected not to use the 10% de minimis cost rate and did not charge indirect cost to federal grants during the year ended June 30, 2024.
Information reported in the accompanying Schedule of Expenditures of Federal Awards agreed with or has been reconciled to the information reported in the Office’s Statement of Cash Receipts and Cash Disbursements - Governmental Funds.
Title: INDIRECT COST RATE
Accounting Policies: Expenditures presented on the Schedule are reported on the cash basis of accounting. 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. The financial transactions are recorded by the Office accordance with the terms and conditions of the
grants, which are consistent with US GAAP. Expenditures for Public Assistance Grants (FEMA) are recognized in the period
under: (1) FEMA has approved the PW, and (2) eligible expenditures are incurred
De Minimis Rate Used: N
Rate Explanation: The Office has elected not to use the 10% de minimis cost rate and did not charge indirect cost to federal grants during the year ended June 30, 2024.
The Office has elected not to use the 10% de minimis cost rate and did not charge indirect cost to federal grants during the year ended June 30, 2024.
Title: STATE AND LOCAL FISCAL RECOVERY FUND (ASSISTANCE LISTING 21.027)
Accounting Policies: Expenditures presented on the Schedule are reported on the cash basis of accounting. 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. The financial transactions are recorded by the Office accordance with the terms and conditions of the
grants, which are consistent with US GAAP. Expenditures for Public Assistance Grants (FEMA) are recognized in the period
under: (1) FEMA has approved the PW, and (2) eligible expenditures are incurred
De Minimis Rate Used: N
Rate Explanation: The Office has elected not to use the 10% de minimis cost rate and did not charge indirect cost to federal grants during the year ended June 30, 2024.
On March 11, 2021, was signed into law the American Rescue Plan Act (ARPA) of 2021, the latest COVID-19 stimulus package. Within ARPA, the Coronavirus State and Local Fiscal Recovery Fund provides $350 billion for states, municipalities, counties, tribes, and territories, including $130.2 billion for local governments split evenly between municipalities and counties. Accordingly, the Municipality received a grant under Counties and Non-Entitlements categories to respond to the COVID-19 public health emergency and its economic impacts. The Municipality will incur ARPA grant expenditures in the following fiscal years.