Title: Loan/loan guarantee outstanding balances
Accounting Policies: Basis of Accounting. The accompanying schedule of expenditures of federal awards (the schedule) presents the activity of all federal financial assistance programs of the City of Leesville, Louisiana (the City). The City's reporting entity is defined in Note 1 to the financial statements for the year ended June 30,2022. The information in this schedule is presented in accordance with the requirements of Title 2U.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. Summary of Significant Accounting Policies. Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. The City of Leesville, Louisiana has not elected to use the 10 percent de minimus indirectcost rate as allowed under the Uniform Guidance.
CAPITALIZATION GRANTS FOR DRINKING WATER STATE REVOLVING FUNDS (66.468) - Balances outstanding at the end of the audit period were 2938000.
Title: Relationship to Fund Financial Statements
Accounting Policies: Basis of Accounting. The accompanying schedule of expenditures of federal awards (the schedule) presents the activity of all federal financial assistance programs of the City of Leesville, Louisiana (the City). The City's reporting entity is defined in Note 1 to the financial statements for the year ended June 30,2022. The information in this schedule is presented in accordance with the requirements of Title 2U.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. Summary of Significant Accounting Policies. Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. The City of Leesville, Louisiana has not elected to use the 10 percent de minimus indirectcost rate as allowed under the Uniform Guidance.
Federal financial assistance is reported in the City's fund financial statements as follows: From federal sources: Government Fund Types - General Fund $22,417, Special Revenue Funds $24,120, Capital Projects Funds $11,775, Proprietary Fund Type - Sewer Fund $1,055,490, Water Fund $70,607, Total $1,184,409.
Title: Subrecipients
Accounting Policies: Basis of Accounting. The accompanying schedule of expenditures of federal awards (the schedule) presents the activity of all federal financial assistance programs of the City of Leesville, Louisiana (the City). The City's reporting entity is defined in Note 1 to the financial statements for the year ended June 30,2022. The information in this schedule is presented in accordance with the requirements of Title 2U.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. Summary of Significant Accounting Policies. Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. The City of Leesville, Louisiana has not elected to use the 10 percent de minimus indirectcost rate as allowed under the Uniform Guidance.
The City provided no federal awards to subrecipients.