Title: BASIS OF PRESENTATION
Accounting Policies: All Federal grant operations of the City of Hagerstown (the City) are included in the scope
of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements,
Cost Principles, and Audit Requirements for Federal Awards (the Single Audit). The Single
Audit was performed in accordance with the provisions of the OMB Compliance Supplement
(the Compliance Supplement). Compliance testing of all requirements, as described in the
Compliance Supplement, was performed for the major grant program noted below. The
programs on the Schedule of Expenditures of Federal Awards (the Schedule) represent all
Federal award programs and other grants with fiscal year 2024 cash or non-cash expenditure
activities. For our single audit testing, we tested the Federal award program below with fiscal
year 2024 cash and non-cash expenditures to ensure coverage of at least 20% of Federally
granted funds. Our actual coverage was 79%.
Expenditures are recognized following the cost principles contained in Title 2 U.S. Code of
Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and
Audit Requirements for Federal Awards (the Uniform Guidance), wherein certain types of
expenditures are not allowable or are limited as to reimbursement. The City has elected not to
use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Major Programs
Federal Assistance
Listing Number
Federal
Expenditures
Appalachian Regional Commission 23.009 $ 1,450,000
Coronavirus State and Local Fiscal Recovery Funds 21.027 5,221,141
$ 6,671,141
De Minimis Rate Used: N
Rate Explanation: The City has elected not to
use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedule includes the Federal award activity of the City under programs
of the Federal government for the year ended June 30, 2024, and is reported on the accrual
basis of accounting. The information in the Schedule is presented in accordance with 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 assets, or cash
flows of the City.
Title: LOAN OUTSTANDING
Accounting Policies: All Federal grant operations of the City of Hagerstown (the City) are included in the scope
of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements,
Cost Principles, and Audit Requirements for Federal Awards (the Single Audit). The Single
Audit was performed in accordance with the provisions of the OMB Compliance Supplement
(the Compliance Supplement). Compliance testing of all requirements, as described in the
Compliance Supplement, was performed for the major grant program noted below. The
programs on the Schedule of Expenditures of Federal Awards (the Schedule) represent all
Federal award programs and other grants with fiscal year 2024 cash or non-cash expenditure
activities. For our single audit testing, we tested the Federal award program below with fiscal
year 2024 cash and non-cash expenditures to ensure coverage of at least 20% of Federally
granted funds. Our actual coverage was 79%.
Expenditures are recognized following the cost principles contained in Title 2 U.S. Code of
Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and
Audit Requirements for Federal Awards (the Uniform Guidance), wherein certain types of
expenditures are not allowable or are limited as to reimbursement. The City has elected not to
use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Major Programs
Federal Assistance
Listing Number
Federal
Expenditures
Appalachian Regional Commission 23.009 $ 1,450,000
Coronavirus State and Local Fiscal Recovery Funds 21.027 5,221,141
$ 6,671,141
De Minimis Rate Used: N
Rate Explanation: The City has elected not to
use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The drinking water loans made during the fiscal year are the amounts recorded on the Schedule.
The prior loans do not have continuing compliance requirements other than repayment,
therefore the outstanding loan balances as of the beginning of the year are not recorded on the
Schedule.
The City had the following loan balances outstanding as of June 30, 2024:
Program
Federal Assistance
Listing Number
Balance
Outstanding
Capitalization Loan A for Safe Drinking Water State Revolving Fund 66.468 $ 6,330,796
Total $ 6,330,796