Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant
activity of the City of Alamo, Texas. The information in the Schedule is presented in accordance with the
requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”).
Therefore, some amounts 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 has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform
Guidance.
Basis of Presentation
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant
activity of the City of Alamo, Texas. The information in the Schedule is presented in accordance with the
requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”).
Therefore, some amounts may differ from amounts presented in, or used in the preparation of the basic
financial statements.
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. These
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: INDIRECT COST RATE
Accounting Policies: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant
activity of the City of Alamo, Texas. The information in the Schedule is presented in accordance with the
requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”).
Therefore, some amounts 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 has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform
Guidance.
The City has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform
Guidance.
Title: FEDERAL LOANS AND LOAN GUARANTEES
Accounting Policies: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant
activity of the City of Alamo, Texas. The information in the Schedule is presented in accordance with the
requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”).
Therefore, some amounts 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 has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform
Guidance.
During the fiscal year ended September 30, 2023, the City had no outstanding federal loans payable or
loan guarantees.
Title: SUB-RECIPIENTS
Accounting Policies: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant
activity of the City of Alamo, Texas. The information in the Schedule is presented in accordance with the
requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”).
Therefore, some amounts 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 has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform
Guidance.
During the fiscal year ended September 30, 2023, the City did not have any sub-recipients.
Title: NONCASH AWARDS
Accounting Policies: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant
activity of the City of Alamo, Texas. The information in the Schedule is presented in accordance with the
requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”).
Therefore, some amounts 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 has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform
Guidance.
During the fiscal year ended September 30, 2023, the City did not receive any non-cash assistance.
Title: FEDERALLY FUNDED INSURANCE
Accounting Policies: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant
activity of the City of Alamo, Texas. The information in the Schedule is presented in accordance with the
requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”).
Therefore, some amounts 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 has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform
Guidance.
During the fiscal year ended September 30, 2023, the City had no outstanding federally funded insurance.