Audit 36408

Title: Subrecipients Accounting Policies: Basis of Accounting - The accompanying schedule of expenditures of federal awards includes the federal grant activity of the City of Madisonville and is presented on the 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 Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The City of Madisonville did not pass-through grant money to any subrecipients during the year ended June 30, 2022.