Audit 354478

Title: Note 1. Basis of Presentation Accounting Policies: Expenditures reported on this schedule are reported on the accrual basis of accounting. When applicable, such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. No federal financial assistance has been provided to a subrecipient. The City has not chosen to use the 10% de-minimis indirect cost rate as allowed under Uniform Guidance De Minimis Rate Used: N Rate Explanation: Direct costs only were used. The accompanying Schedule of Expenditures of Federal Awards includes the federal award activity for the City of Idaho Falls, Idaho as of September 30, 2024. The information in this schedule is prepared 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 this schedule presents only a select portion of the operations of the City, it is not intended to and does not present the financial position, changes in net position, fund balance, or cash flows of the City and is presented as a supplemental information within the City’s annual comprehensive financial report for the year ended September 30, 2024.

Title: Note 2. Summary of Significant Accounting Policies Accounting Policies: Expenditures reported on this schedule are reported on the accrual basis of accounting. When applicable, such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. No federal financial assistance has been provided to a subrecipient. The City has not chosen to use the 10% de-minimis indirect cost rate as allowed under Uniform Guidance De Minimis Rate Used: N Rate Explanation: Direct costs only were used. Expenditures reported on this schedule are reported on the accrual basis of accounting. When applicable, such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. No federal financial assistance has been provided to a subrecipient. The City has not chosen to use the 10% de-minimis indirect cost rate as allowed under Uniform Guidance.

Title: Note 3. Matching Requirements Accounting Policies: Expenditures reported on this schedule are reported on the accrual basis of accounting. When applicable, such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. No federal financial assistance has been provided to a subrecipient. The City has not chosen to use the 10% de-minimis indirect cost rate as allowed under Uniform Guidance De Minimis Rate Used: N Rate Explanation: Direct costs only were used. Certain Federal programs require the City to contribute non-Federal funds (matching funds) to support the federally – funded programs. The City has met its matching requirements. The schedule does not include the expenditure on non - Federal matching funds.