Audit 348647

Title: General Accounting Policies: The Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting. 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. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements. De Minimis Rate Used: N Rate Explanation: Village of Simsboro did not elect to use the 10% de minimis federal indirect cost rate for the year ended June 30, 2024. The Schedule of Expenditures of Federal Awards presents the activity of all federal award programs of Village of Simsboro. All federal award programs received directly from federal agencies, as well as federal awards passed through other government agencies, are included on the schedule.

Title: Basis of Accounting Accounting Policies: The Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting. 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. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements. De Minimis Rate Used: N Rate Explanation: Village of Simsboro did not elect to use the 10% de minimis federal indirect cost rate for the year ended June 30, 2024. The Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting. 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. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.

Title: Federal Indirect Cost Rate Accounting Policies: The Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting. 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. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements. De Minimis Rate Used: N Rate Explanation: Village of Simsboro did not elect to use the 10% de minimis federal indirect cost rate for the year ended June 30, 2024. Village of Simsboro did not elect to use the 10% de minimis federal indirect cost rate for the year ended June 30, 2024.