Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The accompanying schedule of expenditures of federal and state awards (the “Schedule”) includes the federal and state grant activity of the City of Beaumont, Texas (the “City”) under programs of the federal and state government for the year ended September 30, 2024. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budget (OMB) Uniform Guidance and State of Texas Grant Management Standards (TXGMS). Because the Schedule presents a selected portion of the operations of the City, it is not intended to and does not present the financial position, changes in net position or cash flows of the City. The City accounts for awards under federal and state programs in the General, Capital Projects, and Special Revenue governmental funds. The Schedule includes all federal and state awards expended by the City, regardless of whether the award was received directly from the federal or state agency or passed through another agency. Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and TXGMS, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass‐through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance, Section 414.
The accompanying schedule of expenditures of federal and state awards (the “Schedule”) includes the federal and state grant activity of the City of Beaumont, Texas (the “City”) under programs of the federal and state government for the year ended September 30, 2024. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budget (OMB) Uniform Guidance and State of Texas Grant Management Standards (TXGMS). Because the Schedule presents a selected portion of the operations of the City, it is not intended to and does not present the financial position, changes in net position or cash flows of the City. The City accounts for awards under federal and state programs in the General, Capital Projects, and Special Revenue governmental funds. The Schedule includes all federal and state awards expended by the City, regardless of whether the award was received directly from the federal or state agency or passed through another agency. Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and TXGMS, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass‐through entity identifying numbers are presented where available.
Title: INDIRECT COSTS
Accounting Policies: The accompanying schedule of expenditures of federal and state awards (the “Schedule”) includes the federal and state grant activity of the City of Beaumont, Texas (the “City”) under programs of the federal and state government for the year ended September 30, 2024. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budget (OMB) Uniform Guidance and State of Texas Grant Management Standards (TXGMS). Because the Schedule presents a selected portion of the operations of the City, it is not intended to and does not present the financial position, changes in net position or cash flows of the City. The City accounts for awards under federal and state programs in the General, Capital Projects, and Special Revenue governmental funds. The Schedule includes all federal and state awards expended by the City, regardless of whether the award was received directly from the federal or state agency or passed through another agency. Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and TXGMS, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass‐through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance, Section 414.
The City has elected not to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance, Section 414.
Title: PASS-THROUGH EXPENDITURES
Accounting Policies: The accompanying schedule of expenditures of federal and state awards (the “Schedule”) includes the federal and state grant activity of the City of Beaumont, Texas (the “City”) under programs of the federal and state government for the year ended September 30, 2024. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budget (OMB) Uniform Guidance and State of Texas Grant Management Standards (TXGMS). Because the Schedule presents a selected portion of the operations of the City, it is not intended to and does not present the financial position, changes in net position or cash flows of the City. The City accounts for awards under federal and state programs in the General, Capital Projects, and Special Revenue governmental funds. The Schedule includes all federal and state awards expended by the City, regardless of whether the award was received directly from the federal or state agency or passed through another agency. Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and TXGMS, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass‐through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance, Section 414.
The Women, Infants and Children’s program distributes Electronic Benefit Transfer (EBT) cards as part of its operations. The number of cards on hand as of September 30, 2024 is 510. There is no monetary value to these cards until issued.