Title: NOTE 1 – REPORTING ENTITY
Accounting Policies: NOTE 1 – REPORTING ENTITY
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal awards programs of the Town of Mammoth Lakes, California (the Town). All federal awards received directly from federal agencies as well as federal awards passed through other government agencies are included in the schedule. 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 (Uniform Guidance). Because the schedule presents only a selected portion of the operations of the Town, it is not intended to and does not present the financial position, changes in net position or cash flows of the Town.
NOTE 2 – BASIS OF ACCOUNTING
The accompanying Schedule of Expenditures of Federal Awards is prepared using the modified accrual basis of accounting for program expenditures accounted for in governmental funds and the accrual basis of accounting for expenditures accounted for in proprietary funds, as described in Note 1 of the Town’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: NOTE 4 – INDIRECT COST RATE
The Town has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal awards programs of the Town of Mammoth Lakes, California (the Town). All federal awards received directly from federal agencies as well as federal awards passed through other government agencies are included in the schedule. 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 (Uniform Guidance). Because the schedule presents only a selected portion of the operations of the Town, it is not intended to and does not present the financial position, changes in net position or cash flows of the Town.
Title: NOTE 2 – BASIS OF ACCOUNTING
Accounting Policies: NOTE 1 – REPORTING ENTITY
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal awards programs of the Town of Mammoth Lakes, California (the Town). All federal awards received directly from federal agencies as well as federal awards passed through other government agencies are included in the schedule. 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 (Uniform Guidance). Because the schedule presents only a selected portion of the operations of the Town, it is not intended to and does not present the financial position, changes in net position or cash flows of the Town.
NOTE 2 – BASIS OF ACCOUNTING
The accompanying Schedule of Expenditures of Federal Awards is prepared using the modified accrual basis of accounting for program expenditures accounted for in governmental funds and the accrual basis of accounting for expenditures accounted for in proprietary funds, as described in Note 1 of the Town’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: NOTE 4 – INDIRECT COST RATE
The Town has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards is prepared using the modified accrual basis of accounting for program expenditures accounted for in governmental funds and the accrual basis of accounting for expenditures accounted for in proprietary funds, as described in Note 1 of the Town’s basic financial statements.
Title: NOTE 3 – RELATIONSHIP TO BASIC FINANCIAL STATEMENTS
Accounting Policies: NOTE 1 – REPORTING ENTITY
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal awards programs of the Town of Mammoth Lakes, California (the Town). All federal awards received directly from federal agencies as well as federal awards passed through other government agencies are included in the schedule. 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 (Uniform Guidance). Because the schedule presents only a selected portion of the operations of the Town, it is not intended to and does not present the financial position, changes in net position or cash flows of the Town.
NOTE 2 – BASIS OF ACCOUNTING
The accompanying Schedule of Expenditures of Federal Awards is prepared using the modified accrual basis of accounting for program expenditures accounted for in governmental funds and the accrual basis of accounting for expenditures accounted for in proprietary funds, as described in Note 1 of the Town’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: NOTE 4 – INDIRECT COST RATE
The Town has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The amounts reported in the accompanying Schedule of Expenditures of Federal Awards agree, in all material respects, to amounts reported within the Town’s financial statements.
ALN number 97.036 reported on the SEFA includes expenditures that were incurred in a prior fiscal year. This is the result of the funder approving the related projects during this current fiscal year. See SEFA reconciliation below:
Title: NOTE 4 – INDIRECT COST RATE
Accounting Policies: NOTE 1 – REPORTING ENTITY
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal awards programs of the Town of Mammoth Lakes, California (the Town). All federal awards received directly from federal agencies as well as federal awards passed through other government agencies are included in the schedule. 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 (Uniform Guidance). Because the schedule presents only a selected portion of the operations of the Town, it is not intended to and does not present the financial position, changes in net position or cash flows of the Town.
NOTE 2 – BASIS OF ACCOUNTING
The accompanying Schedule of Expenditures of Federal Awards is prepared using the modified accrual basis of accounting for program expenditures accounted for in governmental funds and the accrual basis of accounting for expenditures accounted for in proprietary funds, as described in Note 1 of the Town’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: NOTE 4 – INDIRECT COST RATE
The Town has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Town has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: NOTE 5 – PASS-THROUGH ENTITY IDENTIFYING NUMBERS
Accounting Policies: NOTE 1 – REPORTING ENTITY
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal awards programs of the Town of Mammoth Lakes, California (the Town). All federal awards received directly from federal agencies as well as federal awards passed through other government agencies are included in the schedule. 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 (Uniform Guidance). Because the schedule presents only a selected portion of the operations of the Town, it is not intended to and does not present the financial position, changes in net position or cash flows of the Town.
NOTE 2 – BASIS OF ACCOUNTING
The accompanying Schedule of Expenditures of Federal Awards is prepared using the modified accrual basis of accounting for program expenditures accounted for in governmental funds and the accrual basis of accounting for expenditures accounted for in proprietary funds, as described in Note 1 of the Town’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: NOTE 4 – INDIRECT COST RATE
The Town has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
When federal awards were received from a pass-through entity, the Schedule of Expenditures of Federal Awards shows, if available, the identifying number assigned by the pass-through entity. When the Town determined that no identifying number is assigned for the program or the Town was unable to obtain an identifying number from the pass-through entity, the Town has indicated “-” as the pass-through identifying number.