Title: NOTE 1 – REPORTING ENTITY
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. These
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. Negative amounts
shown on the Schedule, if any, represent adjustments or credits made in the normal course of business to
amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform
Guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) presents the activity of all
federal financial assistance programs of the City.
Title: NOTE 2 – BASIS OF ACCOUNTING
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. These
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. Negative amounts
shown on the Schedule, if any, represent adjustments or credits made in the normal course of business to
amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform
Guidance.
The 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”). Therefore, some amounts presented in the Schedule may differ from
amounts presented in, or used in the preparation of, the basic financial statements.
Title: NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. These
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. Negative amounts
shown on the Schedule, if any, represent adjustments or credits made in the normal course of business to
amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform
Guidance.
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. These
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. Negative amounts
shown on the Schedule, if any, represent adjustments or credits made in the normal course of business to
amounts reported as expenditures in prior years.
Title: NOTE 4 – INDIRECT COST RATE
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. These
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. Negative amounts
shown on the Schedule, if any, represent adjustments or credits made in the normal course of business to
amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform
Guidance.
The City has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform
Guidance.
Title: NOTE 5 – SUBRECIPIENTS
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. These
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. Negative amounts
shown on the Schedule, if any, represent adjustments or credits made in the normal course of business to
amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform
Guidance.
Federal awards provided to subrecipients are treated as expenditures when paid to the subrecipients. Of
the expenditures presented in the Schedule, the City provided federal awards to subrecipients of $95,570
related to the CDBG grant (14.218).