Notes to SEFA
Title: NOTE 3 - MATCHING REQUIREMENTS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the City of Wapakoneta (the “City”) under programs of the federal government for the year ended December 31, 2022. The information on this Schedule is prepared 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). Because the Schedule presents only 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. Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are recognized following cost principles contained in Uniform Guidance wherein certain types of expenditures may or may not be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The City has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Certain Federal programs require the City to contribute non-Federal funds (matching funds) to support the Federallyfunded programs. The City has met its matching requirements. The Schedule does not include the expenditure of non- Federal matching funds.
Title: NOTE 4 – SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the City of Wapakoneta (the “City”) under programs of the federal government for the year ended December 31, 2022. The information on this Schedule is prepared 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). Because the Schedule presents only 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. Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are recognized following cost principles contained in Uniform Guidance wherein certain types of expenditures may or may not be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The City has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
For the year ended December 31, 2022, it was determined that City did not identify certain expenditures of federal awards. Subsequent to the original issuance of the audit report on November 17, 2023, with the assistance of the passthrough entity, it was determined that the City omitted the following expenditures of federal awards from the originally provided Schedule: $1,484,064 of expenditures related to the Highway Planning and Construction Cluster (Highway Planning and Construction - AUG CR 25A 3.29), from the U.S. Department of Transportation and passed through the Ohio Department of Transportation, were omitted from the originally provided Schedule. Management has revised and reissued the Schedule.