Title: NOTE A – 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 Title 2 U.S. Code of Federal Regulations Part
200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards,
wherein certain types of expenditures may or may not be allowable or may be limited as to
reimbursement. The City has elected not to use the 10-percent de minimis indirect cost rate as allowed
under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10-percent 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 the City of Elyria (the “City”) 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, it is not intended to
and does not present the financial position, changes in net position, or cash flows of the City.
Title: NOTE B – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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 Title 2 U.S. Code of Federal Regulations Part
200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards,
wherein certain types of expenditures may or may not be allowable or may be limited as to
reimbursement. The City has elected not to use the 10-percent de minimis indirect cost rate as allowed
under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10-percent de minimis indirect cost rate as allowed
under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures
are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part
200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards,
wherein certain types of expenditures may or may not be allowable or may be limited as to
reimbursement. The City has elected not to use the 10-percent de minimis indirect cost rate as allowed
under the Uniform Guidance.
Title: NOTE C - SUBRECIPIENTS
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 Title 2 U.S. Code of Federal Regulations Part
200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards,
wherein certain types of expenditures may or may not be allowable or may be limited as to
reimbursement. The City has elected not to use the 10-percent de minimis indirect cost rate as allowed
under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10-percent de minimis indirect cost rate as allowed
under the Uniform Guidance.
The City passes certain federal awards received from the U.S. Department of Housing & Urban
Development and the Coronavirus State and Local Fiscal Recovery Funds to other governments or notfor-
profit agencies (subrecipients). As Note B describes, the City reports expenditures of Federal awards
to subrecipients when paid in cash.
As a subrecipient, the City has certain compliance responsibilities, such as monitoring its subrecipients to
help assure they use these subawards as authorized by laws, regulations, and the provisions of contracts or
grant agreements, and that subrecipients achieve the award’s performance goals.
Title: NOTE D - HOME INVESTMENT PARTNERSHIPS PROGRAM (HOME) GRANT PROGRAM
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 Title 2 U.S. Code of Federal Regulations Part
200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards,
wherein certain types of expenditures may or may not be allowable or may be limited as to
reimbursement. The City has elected not to use the 10-percent de minimis indirect cost rate as allowed
under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10-percent de minimis indirect cost rate as allowed
under the Uniform Guidance.
The current cash balance on the City’s local program income account as of December 31, 2024 is
$31,251.
Title: NOTE E - MATCHING REQUIREMENTS
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 Title 2 U.S. Code of Federal Regulations Part
200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards,
wherein certain types of expenditures may or may not be allowable or may be limited as to
reimbursement. The City has elected not to use the 10-percent de minimis indirect cost rate as allowed
under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The City has elected not 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
Federally-funded programs. The City has met its matching requirements. The Schedule does not include
the expenditure of non-Federal matching funds.