Title: BASIS OF PRESENTATION
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of
the City of Madison, Alabama and is presented on 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 basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The City did not elect to charge a de minimis rate of 10% for federal awards.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of
the City of Madison, Alabama and is presented on 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 basic financial statements.
Title: REPORTING ENTITY
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of
the City of Madison, Alabama and is presented on 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 basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The City did not elect to charge a de minimis rate of 10% for federal awards.
The City’s reporting entity is fully described in Note 1 to the basic financial statements.
Title: SUBRECIPIENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of
the City of Madison, Alabama and is presented on 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 basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The City did not elect to charge a de minimis rate of 10% for federal awards.
The City did not provide federal awards to any subrecipients during the year ended September 30,
2024.
Title: PROGRAM INCOME
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of
the City of Madison, Alabama and is presented on 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 basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The City did not elect to charge a de minimis rate of 10% for federal awards.
The City did not have program income during the year ended September 30, 2024.
Title: INDIRECT COST RATE
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of
the City of Madison, Alabama and is presented on 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 basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The City did not elect to charge a de minimis rate of 10% for federal awards.
The City did not elect to charge a de minimis rate of 10% for federal awards.
Title: FEDERAL AWARD
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of
the City of Madison, Alabama and is presented on 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 basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The City did not elect to charge a de minimis rate of 10% for federal awards.
In prior years federal awards were expended on the City’s behalf by the State of Alabama. The
state managed the projects and executed the contracts. During the year ended September 30,
2024, the City became aware these funds should be included on the schedule of expenditures of
federal awards. These awards are reported under assistance listing number 20.205.