Title: General
Accounting Policies: This schedule includes the federal award activity of the City of Pascagoula, Mississippi under programs of the federal government of the year ended September 30, 2023. 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 Requirement, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents on a selected portion of the operations of the City, it is not intended to and does not present the financial position, or changes in net assets of the City.
De Minimis Rate Used: N
Rate Explanation: The City has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
This schedule includes the federal award activity of the City of Pascagoula, Mississippi under programs of the federal government of the year ended September 30, 2023. 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 Requirement, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents on a selected portion of the operations of the City, it is not intended to and does not present the financial position, or changes in net assets of the City.
Title: Basis of Accounting
Accounting Policies: This schedule includes the federal award activity of the City of Pascagoula, Mississippi under programs of the federal government of the year ended September 30, 2023. 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 Requirement, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents on a selected portion of the operations of the City, it is not intended to and does not present the financial position, or changes in net assets of the City.
De Minimis Rate Used: N
Rate Explanation: The City has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the City and is presented on the modified-accrual basis of accounting. Differences between the granting-agency basis of accounting and the basis of accounting used by the City in preparing its financial fund statements may occur
Title: Federal Loans
Accounting Policies: This schedule includes the federal award activity of the City of Pascagoula, Mississippi under programs of the federal government of the year ended September 30, 2023. 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 Requirement, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents on a selected portion of the operations of the City, it is not intended to and does not present the financial position, or changes in net assets of the City.
De Minimis Rate Used: N
Rate Explanation: The City has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The City has the following federal loans outstanding as of September 30, 2023:
Title: Indirect Cost Rate
Accounting Policies: This schedule includes the federal award activity of the City of Pascagoula, Mississippi under programs of the federal government of the year ended September 30, 2023. 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 Requirement, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents on a selected portion of the operations of the City, it is not intended to and does not present the financial position, or changes in net assets of the City.
De Minimis Rate Used: N
Rate Explanation: The City has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The City has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Subrecipients
Accounting Policies: This schedule includes the federal award activity of the City of Pascagoula, Mississippi under programs of the federal government of the year ended September 30, 2023. 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 Requirement, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents on a selected portion of the operations of the City, it is not intended to and does not present the financial position, or changes in net assets of the City.
De Minimis Rate Used: N
Rate Explanation: The City has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Awards passed through to subrecipients are as follows: