Audit 357108

Accounting Policies: Note 1. Basis of Accounting - The accompanying Schedule of Expenditures of Federal Awards (the Schedule) is prepared on the modified accrual basis of accounting. Expenditures are recognized when incurred. Note 2. Reporting Entity- The City of Grand Prairie, Texas (the City), for purposes of the Schedule, includes all funds of the primary government, but excludes component units as defined by the Government Accounting Standards Board. Note 3. Relationship to Federal Financial Reports- Grant expenditure reports, as of September 30, 2024, already submitted to grantor agencies will, in some cases, differ slightly from amounts disclosed herein. The reports prepared for grantor agencies are typically prepared at a later date and often reflect refined estimates of the year-end accruals. The reports will agree at termination of the grant as the discrepancies noted are timing differences. Note 4. Indirect Cost Rate- The City has elected not to use the 10% de minimis indirect cost rate. Note 5. Loans- At September 30, 2024, the City had no loans or loan guarantees outstanding with state awarding agencies. De Minimis Rate Used: N Rate Explanation: Note 4. Indirect Cost Rate- The City has elected not to use the 10% de minimis indirect cost rate.