Title: Organization
Accounting Policies: Expenditures reported on the accompanying Schedule are reported on the modified accrual basis of accounting as described in the footnotes to the City’s financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. The City has elected not to use the 10-percent de-minimis indirect cost rate allowed under the Uniform Guidance. The City either did not apply an indirect cost rate against its grants, or it used a rate lower than the de-minimis rate allowed.
De Minimis Rate Used: N
Rate Explanation: N/A
The accompanying schedule of expenditures of federal awards (the Schedule) presents the activity of all federal award programs of the City of Overland Park, Kansas (the City) for the year ended December 31, 2024. All federal awards received directly from federal agencies, as well as federal awards passed through other governmental agencies, are included on the Schedule
Title: Basis Of Presentation
Accounting Policies: Expenditures reported on the accompanying Schedule are reported on the modified accrual basis of accounting as described in the footnotes to the City’s financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. The City has elected not to use the 10-percent de-minimis indirect cost rate allowed under the Uniform Guidance. The City either did not apply an indirect cost rate against its grants, or it used a rate lower than the de-minimis rate allowed.
De Minimis Rate Used: N
Rate Explanation: N/A
The accompanying Schedule includes the federal award activity of the City under programs of the federal government for the year ended December 31, 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 (the Uniform Guidance). Because the Schedule presents only a selected portion 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.
Title: Summary Of Significant Accounting Policies
Accounting Policies: Expenditures reported on the accompanying Schedule are reported on the modified accrual basis of accounting as described in the footnotes to the City’s financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. The City has elected not to use the 10-percent de-minimis indirect cost rate allowed under the Uniform Guidance. The City either did not apply an indirect cost rate against its grants, or it used a rate lower than the de-minimis rate allowed.
De Minimis Rate Used: N
Rate Explanation: N/A
Expenditures reported on the accompanying Schedule are reported on the modified accrual basis of accounting as described in the footnotes to the City’s financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The City has elected not to use the 10-percent de-minimis indirect cost rate allowed under the Uniform Guidance. The City either did not apply an indirect cost rate against its grants, or it used a rate lower than the de-minimis rate allowed.
Title: Local Government Contributions
Accounting Policies: Expenditures reported on the accompanying Schedule are reported on the modified accrual basis of accounting as described in the footnotes to the City’s financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. The City has elected not to use the 10-percent de-minimis indirect cost rate allowed under the Uniform Guidance. The City either did not apply an indirect cost rate against its grants, or it used a rate lower than the de-minimis rate allowed.
De Minimis Rate Used: N
Rate Explanation: N/A
Local cost sharing, as defined by 2 CFR Section 200.306 of the Uniform Guidance, is required by certain federal grants. The amount of cost sharing varies with each program. Only the federal share of expenditures is presented in the schedule of expenditures of federal awards.
Title: Additional Audits
Accounting Policies: Expenditures reported on the accompanying Schedule are reported on the modified accrual basis of accounting as described in the footnotes to the City’s financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. The City has elected not to use the 10-percent de-minimis indirect cost rate allowed under the Uniform Guidance. The City either did not apply an indirect cost rate against its grants, or it used a rate lower than the de-minimis rate allowed.
De Minimis Rate Used: N
Rate Explanation: N/A
Grantor agencies reserve the right to conduct additional audits of the City’s grant programs for economy, efficiency, and program results, which may result in disallowed costs to the City. However, management does not believe such audits would result in any disallowed costs that would be material to the City’s financial position at December 31, 2024.