Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of the City of Long Beach, New York, (the City), under programs of the federal government for the year ended June 30, 2022. The information in the 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. Because the Schedule presents only a portion of the operations the of City it is not intended to and does not present the financial position, changes in net position, or cash flows for the City.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Expenditures reported on the Schedule are presented in conformity with accounting principles generally accepted in the United States and the amounts presented are derived from the City's general ledger.
Title: PASS-THROUGH PROGRAMS
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of the City of Long Beach, New York, (the City), under programs of the federal government for the year ended June 30, 2022. The information in the 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. Because the Schedule presents only a portion of the operations the of City it is not intended to and does not present the financial position, changes in net position, or cash flows for the City.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Where the City receives funds from a government entity other than the federal government (pass-through), the funds are accumulated based upon the Assistance Listing (AL) number advised by the pass-through grantor. Identifying numbers, other than the AL numbers, which may be assigned by pass through grantors are not maintained in the City's financial management system. The City has identified certain pass-through identifying numbers and included them in the Schedule, as available.
Title: INDIRECT COSTS
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of the City of Long Beach, New York, (the City), under programs of the federal government for the year ended June 30, 2022. The information in the 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. Because the Schedule presents only a portion of the operations the of City it is not intended to and does not present the financial position, changes in net position, or cash flows for the City.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Indirect costs are included in the reported expenditures to the extent that such costs are included in the federal financial reports used as the source document for the data presented. The City did not elect to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: MATCHING COSTS
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of the City of Long Beach, New York, (the City), under programs of the federal government for the year ended June 30, 2022. The information in the 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. Because the Schedule presents only a portion of the operations the of City it is not intended to and does not present the financial position, changes in net position, or cash flows for the City.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Matching costs, i.e., the City's share of certain program costs, are not included in the reported expenditures.