Audit 364382

Title: Basis of Presentation Accounting Policies: Expenditures reported on the Schedule are reported on the cash basis of accounting Such expenditures are recognized following the cost principles contained in Uniform Guidance wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement De Minimis Rate Used: N Rate Explanation: The City of Circleville has elected not to use the de minimis indirect cost rate as allowed under the Uniform Guidance. The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of City of Circleville under programs of the federal government for the year ended December 31, 2024. 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 of Circleville, it is not intended to and does not present the financial position, changes in net position, or cash flows of the City of Circleville.

Title: Community Development Block Grant (CDBG) and Home Investment Partnerships Program (HOME) Grant Programs With Revolving Loan Cash Balance Accounting Policies: Expenditures reported on the Schedule are reported on the cash basis of accounting Such expenditures are recognized following the cost principles contained in Uniform Guidance wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement De Minimis Rate Used: N Rate Explanation: The City of Circleville has elected not to use the de minimis indirect cost rate as allowed under the Uniform Guidance. The current cash balance on the City of Circleville local program income account as of December 31, 2024 is $20,275.