Title: BASIS OF PRESENTATION
Accounting Policies: EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE ACCRUAL BASIS OF ACCOUNTING. SUCH EXPENDITURES ARE RECOGNIZED FOLLOWING 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: THE CITY DID NOTELECT TO USE THE 10% DE MINIMIS INDIRECT COST RATE.
THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS (THE "SCHEDULE") INCLUDES THE FEDERAL AWARD ACTIVITY OF CITY OF PINE FOREST, TEXAS 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 US 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 OPERATIONS OF CITY OF PINE FOREST, TEXAS, IT IS NOT INTENDED TO AND DOES NOT PRESENT THE FINANCIAL POSITION, CHANGES IN NET ASSETS, OR CASH FLOWS OF THE CITY OF PINE FOREST, TEXAS.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES
Accounting Policies: EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE ACCRUAL BASIS OF ACCOUNTING. SUCH EXPENDITURES ARE RECOGNIZED FOLLOWING 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: THE CITY DID NOTELECT TO USE THE 10% DE MINIMIS INDIRECT COST RATE.
EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE ACCRUAL BASIS OF ACCOUNTING. SUCH EXPENDITURES ARE RECOGNIZED FOLLOWING 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: EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE ACCRUAL BASIS OF ACCOUNTING. SUCH EXPENDITURES ARE RECOGNIZED FOLLOWING 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: THE CITY DID NOTELECT TO USE THE 10% DE MINIMIS INDIRECT COST RATE.
CITY OF PINE FOREST, TEXAS HAS ELECTED NOT TO USE THE 10% DE MINIMIS INDIRECT COST RATE AS ALLOWED IN THE UNIFORM GUIDANCE.
Title: SUBRECIPIENTS
Accounting Policies: EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE ACCRUAL BASIS OF ACCOUNTING. SUCH EXPENDITURES ARE RECOGNIZED FOLLOWING 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: THE CITY DID NOTELECT TO USE THE 10% DE MINIMIS INDIRECT COST RATE.
CITY OF PINE FOREST, TEXAS HAS NO SUBRECIPIENTS
Title: CONTINGENCIES
Accounting Policies: EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE ACCRUAL BASIS OF ACCOUNTING. SUCH EXPENDITURES ARE RECOGNIZED FOLLOWING 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: THE CITY DID NOTELECT TO USE THE 10% DE MINIMIS INDIRECT COST RATE.
THESE FEDERAL PROGRAMS ARE SUBJECT TO FINANCIAL AND COMPLIANCE BY GRANTOR AGENCIES, WHICH, IF INSTANCES OF MATERIAL NONCOMPLIANCE ARE FOUND, MAY RESULT IN DISALLOWED EXPENDITURES, AND AFFECT THE CITY'S CONTINUED PARTICIPATION IN SPECIFIC PROGRAMS. THE AMOUNT OF EXPENDITURES WHICH MAY BE DISALLOWED BY THE GRANTOR AGENCIES CANNOT BE DETERMINED AT THIS TIME, ALTHOUGH THE EXPECTS SUCH AMOUNTS, IF ANY, TO BE IMMATERIAL.