Title: NOTE 1 SIGNIFICANT ACCOUNTINGS 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 Robertsdale, Alabama (the City) under the 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 of the operations of the City, it is not intended to and does not present the financial position or changes in net position of the City of Robertsdale, Alabama.
Basis of Accounting
The Schedule of Expenditures of Federal Awards is presented based on the modified accrual basis of accounting. Under the modified accrual basis of accounting, revenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). “Measurable” means the amount of the transaction can be determined and “available” means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. A one-year availability period is used for revenue recognition for all governmental fund revenues. Expenditures are recorded when the related liability is incurred.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10% 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 Robertsdale, Alabama (the City) under the 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 of the operations of the City, it is not intended to and does not present the financial position or changes in net position of the City of Robertsdale, Alabama.
Basis of Accounting
The Schedule of Expenditures of Federal Awards is presented based on the modified accrual basis of accounting. Under the modified accrual basis of accounting, revenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). “Measurable” means the amount of the transaction can be determined and “available” means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. A one-year availability period is used for revenue recognition for all governmental fund revenues. Expenditures are recorded when the related liability is incurred.
Indirect Cost Rate
The City has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Title: NOTE 2 STATE REVOLVING FUND LOAN
Accounting Policies: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of the City of Robertsdale, Alabama (the City) under the 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 of the operations of the City, it is not intended to and does not present the financial position or changes in net position of the City of Robertsdale, Alabama.
Basis of Accounting
The Schedule of Expenditures of Federal Awards is presented based on the modified accrual basis of accounting. Under the modified accrual basis of accounting, revenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). “Measurable” means the amount of the transaction can be determined and “available” means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. A one-year availability period is used for revenue recognition for all governmental fund revenues. Expenditures are recorded when the related liability is incurred.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The value of the loan outstanding under this federal program as of September 30, 2024, was $1,270,000.
Title: NOTE 3 COMMUNITY FACILITIES LOANS AND GRANTS
Accounting Policies: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of the City of Robertsdale, Alabama (the City) under the 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 of the operations of the City, it is not intended to and does not present the financial position or changes in net position of the City of Robertsdale, Alabama.
Basis of Accounting
The Schedule of Expenditures of Federal Awards is presented based on the modified accrual basis of accounting. Under the modified accrual basis of accounting, revenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). “Measurable” means the amount of the transaction can be determined and “available” means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. A one-year availability period is used for revenue recognition for all governmental fund revenues. Expenditures are recorded when the related liability is incurred.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The value of the loan outstanding under this federal program as of September 30, 2024, was $3,738,257. Of that amount, $13,713 of allowable costs incurred represents federal expenditures to date as reflected on the schedule of expenditures of federal awards.
Title: NOTE 4 WATER AND WASTE DISPOSAL SYSTEMS FOR RURAL COMMUNITIES
Accounting Policies: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of the City of Robertsdale, Alabama (the City) under the 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 of the operations of the City, it is not intended to and does not present the financial position or changes in net position of the City of Robertsdale, Alabama.
Basis of Accounting
The Schedule of Expenditures of Federal Awards is presented based on the modified accrual basis of accounting. Under the modified accrual basis of accounting, revenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). “Measurable” means the amount of the transaction can be determined and “available” means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. A one-year availability period is used for revenue recognition for all governmental fund revenues. Expenditures are recorded when the related liability is incurred.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
On January 23, 2024, the City entered into an agreement with United Bank to provide interim financing for sewer upgrades in the amount of up to $7,811,000, with an interest rate of 4.439%. This will be a closed end construction line of credit with interest due monthly and due in full after 36 months. After the 36 months, the City will enter into a General Obligation Warrant with United States Department of Agriculture (USDA). As of September 30, 2024, the City drew $4,544,347 on the line of credit. Of that amount, $4,508,868 of allowable costs incurred represents federal expenditures to date as reflected on the schedule of expenditures of federal awards. The remaining amount that was drew related to interest.