Title: 1. REPORTING ENTITY
Accounting Policies: The audit of compliance was conducted in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and the audit 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).
De Minimis Rate Used: N
Rate Explanation: The City has not elected to use the ten percent de minimis cost rate as covered in Section 200.414 Indirect (F&A) costs of the Uniform Guidance.
The financial reporting entity, as defined by the Governmental Accounting Standards Board (GASB) Codification, consists of (a) the primary government, City of South El Monte (City), and (b) component units which include organizations for which the primary government is financially accountable, and other organizations for which the primary government is not accountable, but for which the nature and
significance of their relationship with the primary government are such that exclusion would cause the reporting entity's financial statements to be misleading or incomplete.
Title: 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The audit of compliance was conducted in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and the audit 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).
De Minimis Rate Used: N
Rate Explanation: The City has not elected to use the ten percent de minimis cost rate as covered in Section 200.414 Indirect (F&A) costs of the Uniform Guidance.
Basis of Accounting
Funds received under the various grant programs have been recorded within general, special revenue, and capital projects funds of the City. The City utilizes the modified accrual method of accounting for the general, special revenue, and capital projects funds. The accompanying Schedule of Expenditures of Federal Awards (Schedule) has been prepared accordingly.
Schedule of Expenditures of Federal Awards
The accompanying schedule presents the activity of all federal financial assistance programs of the City. Federal financial assistance received directly from federal agencies, as well as federal financial assistance passed through the State of California and County of Los Angeles, California are also included in the schedule.
The schedule was prepared from only the accounts of various grant programs and, therefore, does not present the financial position or results of operations of the City. For the fiscal year ended June 30, 2024, the City did not have payments passed through to other agencies.
The City has not elected to use the ten percent de minimis cost rate as covered in Section 200.414 Indirect (F&A) costs of the Uniform Guidance.
Title: 3. PROGRAM DESCRIPTIONS
Accounting Policies: The audit of compliance was conducted in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and the audit 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).
De Minimis Rate Used: N
Rate Explanation: The City has not elected to use the ten percent de minimis cost rate as covered in Section 200.414 Indirect (F&A) costs of the Uniform Guidance.
U. S. Department of Housing and Urban Development
Community Development Block Grant (CDBG)
The Community Development Block Grant (CDBG) Program was authorized under Title I of the Housing and Community Development Act of 1974. The primary objective of the CDBG Program is the development of viable urban communities, including adequate housing, a suitable living environment, and expansion of economic opportunities principally for persons of low to moderate income. Under this program, the Department of Housing and Urban Development (HUD) distributes funds based upon approved applications to eligible local governmental units for the purpose of community improvement and betterment.
U.S Department of Interior
Payment in Lieu of Taxes
The program provides compensation for certain tax-exempt federal lands to help offset losses in property taxes to local governments due to non-taxable federal lands within their boundaries.
U. S. Department of Transportation
Highway Planning and Construction
The purpose of the Federal-aid Highway Program is to assist the States in providing for construction, preservation, and improvement of highways and bridges on eligible Federal-Aid routes, (including the National Highway System (NHS) - an integrated, interconnected transportation system important to interstate commerce and travel), and for other special purpose programs and projects.
Enhanced Mobility of Seniors and Individuals with Disabilities
To provide financial assistance in meeting the transportation needs of seniors and individuals with
disabilities where public transportation services are unavailable, insufficient or inappropriate. The
Section 5310 program is designed to supplement FTA's other capital assistance programs by
funding transportation projects for seniors and individuals with disabilities in all areas - large urban,
small urban, and rural.
U.S. Department of Energy
Conservation Research and Development
The goal of this program is to conduct a balanced, long-term research effort in Buildings Technologies, Vehicle Technologies, Solid State Lighting Technologies, Advanced Materials and Manufacturing Technologies, and Industrial Efficiency and Decarbonization.
U.S. Department of Health and Human Services
Aging and Community Services Cluster
To encourage State Agencies on Aging and Area Agencies on Aging to concentrate resources to develop and implement comprehensive and coordinated community-based systems of service for older individuals via Statewide planning, and area planning and provision of supportive services, including multipurpose senior centers. The objective of these services and centers is to maximize the informal support provided to older Americans to enable them to remain in their homes and communities. Providing transportation services, in-home services, and other support services, this program insures that elders receive the services they need to remain independent.