Title: NOTE 1 − BASIS OF PRESENTATION
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the City of
Crystal River, Florida (the “City”), and is presented on the modified accrual basis of accounting.
The information in this 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. Therefore, some amounts presented in the Schedule may differ from amounts presented in, or
used in the preparation of, the basic financial statements. The City did not pass through any of the above to
subrecipients.
De Minimis Rate Used: N
Rate Explanation: The City chose not to use the ten percent de minimis cost rate for the year ended September 30, 2024.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the City of
Crystal River, Florida (the “City”), and is presented on the modified accrual basis of accounting.
The information in this 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. Therefore, some amounts presented in the Schedule may differ from amounts presented in, or
used in the preparation of, the basic financial statements. The City did not pass through any of the above to
subrecipients.
Title: NOTE 2 − DE MINIMIS INDIRECT COST RATE
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the City of
Crystal River, Florida (the “City”), and is presented on the modified accrual basis of accounting.
The information in this 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. Therefore, some amounts presented in the Schedule may differ from amounts presented in, or
used in the preparation of, the basic financial statements. The City did not pass through any of the above to
subrecipients.
De Minimis Rate Used: N
Rate Explanation: The City chose not to use the ten percent de minimis cost rate for the year ended September 30, 2024.
The City chose not to use the ten percent de minimis cost rate for the year ended September 30, 2024.
Title: NOTE 3 − NON-CASH AWARDS
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the City of
Crystal River, Florida (the “City”), and is presented on the modified accrual basis of accounting.
The information in this 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. Therefore, some amounts presented in the Schedule may differ from amounts presented in, or
used in the preparation of, the basic financial statements. The City did not pass through any of the above to
subrecipients.
De Minimis Rate Used: N
Rate Explanation: The City chose not to use the ten percent de minimis cost rate for the year ended September 30, 2024.
The City did not receive non-cash federal awards during the year ended September 30, 2024.