Audit 348747

Title: General Accounting Policies: The Schedule is presented using the accrual basis of accounting as described in Note 2 to the Port’s basic financial statements. Expenditures of federal awards are reported in the Port’s financial statements as operating grant expenses or as additions to capital assets. Payments to subrecipients, of which there were none during the year ended June 30, 2024, are included in the Schedule when the disbursement is made by the Port to the subrecipient. De Minimis Rate Used: N Rate Explanation: The Port has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. The schedule of expenditures of federal awards (Schedule) presents the activity of the federal award programs of the Port of Oakland, California (Port). The reporting entity is defined in Note 1 of the Port’s basic financial statements. 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 (Uniform Guidance). The Schedule identifies federal programs by the Assistance Listing number (ALN). In addition, expenditures funded from the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), American Rescue Plan Act (ARPA) and the Coronavirus Response and Relief Supplemental Appropriations Act (CRRSAA) are denoted by the prefix COVID-19 in the federal program title in the Schedule.

Title: Basis of Accounting Accounting Policies: The Schedule is presented using the accrual basis of accounting as described in Note 2 to the Port’s basic financial statements. Expenditures of federal awards are reported in the Port’s financial statements as operating grant expenses or as additions to capital assets. Payments to subrecipients, of which there were none during the year ended June 30, 2024, are included in the Schedule when the disbursement is made by the Port to the subrecipient. De Minimis Rate Used: N Rate Explanation: The Port has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. The Schedule is presented using the accrual basis of accounting as described in Note 2 to the Port’s basic financial statements. Expenditures of federal awards are reported in the Port’s financial statements as operating grant expenses or as additions to capital assets. Payments to subrecipients, of which there were none during the year ended June 30, 2024, are included in the Schedule when the disbursement is made by the Port to the subrecipient. The Port has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.

Title: Relationship to Federal Financial Reports Accounting Policies: The Schedule is presented using the accrual basis of accounting as described in Note 2 to the Port’s basic financial statements. Expenditures of federal awards are reported in the Port’s financial statements as operating grant expenses or as additions to capital assets. Payments to subrecipients, of which there were none during the year ended June 30, 2024, are included in the Schedule when the disbursement is made by the Port to the subrecipient. De Minimis Rate Used: N Rate Explanation: The Port has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. Amounts reported in the Schedule agree to or can be reconciled with the amounts reported in the related federal financial reports.