Title: NOTE 3 - RELATIONSHIP TO BASIC FINANCIAL STATEMENTS
Accounting Policies: NOTE 1 - BASIS OF PRESENTATION The accompanying schedule of
expenditures of federal awards (the “Schedule”) includes the federal
award activity of City of Minden 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). The City’s reporting entity is defined in Note
1 of the Notes to the financial statements of the City’s Annual Financial
Report. Because the Schedule presents only a selected portion of the
operations of City, it is not intended to and does not present the financial
position, changes in net position, or cash flows of the City of Minden.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures
reported on the Schedule are reported on the modified accrual basis of
accounting, which is described in Note 1 of the Notes to the financial
statements of the City’s Annual Financial Report. 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.
De Minimis Rate Used: N
Rate Explanation: No de minimis cost rate has been needed for the grants city of minden
has been awarded.
NOTE 3 - RELATIONSHIP TO BASIC FINANCIAL STATEMENTS
Federal awards revenues are reported in the City financial
statements as follows:
Governmental Funds:
Major Funds: Federal Sources
General Fund $2,335,577
ARPA 1,125,854
Proprietary Funds:
Utility Fund 1,158,000
Total $ 4,619,431
Title: NOTE 4 - RELATIONSHIP TO FEDERAL FINANCIAL REPORTS
Accounting Policies: NOTE 1 - BASIS OF PRESENTATION The accompanying schedule of
expenditures of federal awards (the “Schedule”) includes the federal
award activity of City of Minden 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). The City’s reporting entity is defined in Note
1 of the Notes to the financial statements of the City’s Annual Financial
Report. Because the Schedule presents only a selected portion of the
operations of City, it is not intended to and does not present the financial
position, changes in net position, or cash flows of the City of Minden.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures
reported on the Schedule are reported on the modified accrual basis of
accounting, which is described in Note 1 of the Notes to the financial
statements of the City’s Annual Financial Report. 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.
De Minimis Rate Used: N
Rate Explanation: No de minimis cost rate has been needed for the grants city of minden
has been awarded.
NOTE 4 - RELATIONSHIP TO FEDERAL FINANCIAL REPORTS
Amounts reported in the accompanying schedule agree with the
amounts reported in the related federal financial reports except
for changes made to reflect amounts in accordance with
accounting principles generally accepted in the United States of
America.
Title: NOTE 5 - MATCHING REVENUES
Accounting Policies: NOTE 1 - BASIS OF PRESENTATION The accompanying schedule of
expenditures of federal awards (the “Schedule”) includes the federal
award activity of City of Minden 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). The City’s reporting entity is defined in Note
1 of the Notes to the financial statements of the City’s Annual Financial
Report. Because the Schedule presents only a selected portion of the
operations of City, it is not intended to and does not present the financial
position, changes in net position, or cash flows of the City of Minden.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures
reported on the Schedule are reported on the modified accrual basis of
accounting, which is described in Note 1 of the Notes to the financial
statements of the City’s Annual Financial Report. 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.
De Minimis Rate Used: N
Rate Explanation: No de minimis cost rate has been needed for the grants city of minden
has been awarded.
NOTE 5 - MATCHING REVENUES For those funds that have
matching revenues and state funding, federal expenditures
were determined by deducting matching revenues from total
expenditures.