Title: Basis of Presentation
Accounting Policies: Expenditures reported on the accompanying Schedule of Expenditures of Federal Awards are reported on the regulatory basis of accounting, which are accounting practices prescribeby the State of Kansas and are described in Note 1 to the City of Liberal, Kansas’ regulator basis financial statement.
De Minimis Rate Used: N
Rate Explanation: The City of Liberal, Kansas has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal award activity of the City of Liberal, Kansas 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 (Uniform Guidance). Because the Schedule presents only a selected portion of the
operations of the City of Liberal, Kansas, it is not intended to and does not present the aggregate cash and unencumbered cash balances and receipts and expenditures of the City
of Liberal, Kansas.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the accompanying Schedule of Expenditures of Federal Awards are reported on the regulatory basis of accounting, which are accounting practices prescribeby the State of Kansas and are described in Note 1 to the City of Liberal, Kansas’ regulator basis financial statement.
De Minimis Rate Used: N
Rate Explanation: The City of Liberal, Kansas has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reported on the accompanying Schedule of Expenditures of Federal Awards are reported on the regulatory basis of accounting, which are accounting practices prescribedby the State of Kansas and are described in Note 1 to the City of Liberal, Kansas’ regulatorybasis financial statement.
Title: Subrecipient Grant Agreement
Accounting Policies: Expenditures reported on the accompanying Schedule of Expenditures of Federal Awards are reported on the regulatory basis of accounting, which are accounting practices prescribeby the State of Kansas and are described in Note 1 to the City of Liberal, Kansas’ regulator basis financial statement.
De Minimis Rate Used: N
Rate Explanation: The City of Liberal, Kansas has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
There were no subrecipient agreements at December 31, 2024.
Title: Indirect Cost Rate
Accounting Policies: Expenditures reported on the accompanying Schedule of Expenditures of Federal Awards are reported on the regulatory basis of accounting, which are accounting practices prescribeby the State of Kansas and are described in Note 1 to the City of Liberal, Kansas’ regulator basis financial statement.
De Minimis Rate Used: N
Rate Explanation: The City of Liberal, Kansas has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The City of Liberal, Kansas has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Noncash Assistance and Cumulative Endowment Funds
Accounting Policies: Expenditures reported on the accompanying Schedule of Expenditures of Federal Awards are reported on the regulatory basis of accounting, which are accounting practices prescribeby the State of Kansas and are described in Note 1 to the City of Liberal, Kansas’ regulator basis financial statement.
De Minimis Rate Used: N
Rate Explanation: The City of Liberal, Kansas has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The City of Liberal, Kansas received no federal noncash assistance and no cumulative endowment funds for the year ended December 31, 2024.
Title: Federal Loan or Loan Guarantee Programs
Accounting Policies: Expenditures reported on the accompanying Schedule of Expenditures of Federal Awards are reported on the regulatory basis of accounting, which are accounting practices prescribeby the State of Kansas and are described in Note 1 to the City of Liberal, Kansas’ regulator basis financial statement.
De Minimis Rate Used: N
Rate Explanation: The City of Liberal, Kansas has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
For the year 2024, the following loan was outstanding at year end:
Kansas Water Pollution Control Revolving Loan Fund $32,440,785
There were no loan guarantees outstanding at year end.
Title: Note G
Accounting Policies: Expenditures reported on the accompanying Schedule of Expenditures of Federal Awards are reported on the regulatory basis of accounting, which are accounting practices prescribeby the State of Kansas and are described in Note 1 to the City of Liberal, Kansas’ regulator basis financial statement.
De Minimis Rate Used: N
Rate Explanation: The City of Liberal, Kansas has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
There was no interest subsidy received by the City of Liberal, Kansas under a federal loan or loan guarantee program.
Title: Note H
Accounting Policies: Expenditures reported on the accompanying Schedule of Expenditures of Federal Awards are reported on the regulatory basis of accounting, which are accounting practices prescribeby the State of Kansas and are described in Note 1 to the City of Liberal, Kansas’ regulator basis financial statement.
De Minimis Rate Used: N
Rate Explanation: The City of Liberal, Kansas has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
No awards were passed through to subrecipients.