Title: (1) General
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal award activity of the City of Rayne (City) under programs of the federal government for the year ended September 30, 2024. 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 ofthe operations of the City, it is not intended to and does not present the fmancial position, changes in net assets, or cash flows of the City.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10 percent de minimis indirect cost rate allowed under Uniform Guidance.
The accompanying Sche dule of Expenditures of Federal Awards (the "Schedule") includes the federal award activity of the City of Rayne (City) under programs of the federal government for the year ended September 30, 2024. 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 ofthe operations of the City, it is not intended to and does not present the fmancial position, changes in net assets, or cash flows of the City.
Title: (2) Basis of Accounting
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal award activity of the City of Rayne (City) under programs of the federal government for the year ended September 30, 2024. 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 ofthe operations of the City, it is not intended to and does not present the fmancial position, changes in net assets, or cash flows of the City.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10 percent de minimis indirect cost rate allowed under Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of accounting, which is described in Note 1 to the City's basic financial statements for the year ended September 30, 2024. 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.
Title: (3) Indirect Cost Rate
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal award activity of the City of Rayne (City) under programs of the federal government for the year ended September 30, 2024. 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 ofthe operations of the City, it is not intended to and does not present the fmancial position, changes in net assets, or cash flows of the City.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10 percent de minimis indirect cost rate allowed under Uniform Guidance.
The City has elected not to use the 10 percent de minimis indirect cost rate allowed under Uniform Guidance.
Title: ( 4) Loans Outstanding
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal award activity of the City of Rayne (City) under programs of the federal government for the year ended September 30, 2024. 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 ofthe operations of the City, it is not intended to and does not present the fmancial position, changes in net assets, or cash flows of the City.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10 percent de minimis indirect cost rate allowed under Uniform Guidance.
The City had a loan balance outstanding of $2,320,000 at September 30, 2024 for the Capitalization Grants for Drinking Water Revolving Loans (66.468). Loans made during the year are included in the federal expenditures presented in the schedule of expenditures of federal awards; however, the City did not make drawdowns during the fiscal year.
Title: (5) Prior Year Federal Funds
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal award activity of the City of Rayne (City) under programs of the federal government for the year ended September 30, 2024. 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 ofthe operations of the City, it is not intended to and does not present the fmancial position, changes in net assets, or cash flows of the City.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10 percent de minimis indirect cost rate allowed under Uniform Guidance.
Federal funds identified as "Assistance Listing/CFDA 20.205" and received as a pass-through the Louisiana Department of Transportation in fiscal year 2023 totaled $276,213. These funds represented reimbursements for costs incurred by the City with regards to qualifying sidewalk projects that were completed during the fiscal year ended September 30, 2022. The costs incurred by the City for these sidewalk projects were inadvertently left off of the Statement of Federal Expenditures (SEFA) schedule in fiscal year 2022. Federal funds identified as "Assistance Listing/CFDA 66.468" from US Environmental Protection Agency received as a pass-through from Louisiana Department of Health Drinking Water Revolving Loan totaled $164,971 were inadvertently left off of the Statement of Federal Expenditures (SEFA) schedule in fiscal year 2023. This footnote provides the information that would have been provided in the 2022 SEF A and 2023 SEF A had the funding been properly included on the SEF A.