Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying schedules of expenditures of federal awards and state financial assistance include the federaland state award activity of the City under programs of the federal and state government for the year endedDecember 31, 2022. The information in these schedules is presented in accordance with the requirements of Title2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards ("Uniform Guidance") and State of Wisconsin Single Audit Guidelines. Becausethe schedules present 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 theschedules are reported on the modified accrual basis of accounting. Such expenditures are recognized followingthe cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable orare limited as to reimbursement. Negative amounts shown on the schedules represent adjustments or creditsmade in the normal course of business to amounts reported as expenditures in prior years.
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.
COMMUNITY DEVELOPMENT BLOCK GRANTS/STATE'S PROGRAM AND NON-ENTITLEMENT GRANTS IN HAWAII (14.228) - Balances outstanding at the end of the audit period were 1706376.
Title: Outstanding Loans
Accounting Policies: The accompanying schedules of expenditures of federal awards and state financial assistance include the federaland state award activity of the City under programs of the federal and state government for the year endedDecember 31, 2022. The information in these schedules is presented in accordance with the requirements of Title2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards ("Uniform Guidance") and State of Wisconsin Single Audit Guidelines. Becausethe schedules present 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 theschedules are reported on the modified accrual basis of accounting. Such expenditures are recognized followingthe cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable orare limited as to reimbursement. Negative amounts shown on the schedules represent adjustments or creditsmade in the normal course of business to amounts reported as expenditures in prior years.
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.
This schedule includes the outstanding loan balances for the Community Development Block Grant (CDBG)2022Beginning balance $ 1,788,520New loans 36,002Loan payments (118,146)Ending balance $ 1,706,376
Title: Subrecipients
Accounting Policies: The accompanying schedules of expenditures of federal awards and state financial assistance include the federaland state award activity of the City under programs of the federal and state government for the year endedDecember 31, 2022. The information in these schedules is presented in accordance with the requirements of Title2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards ("Uniform Guidance") and State of Wisconsin Single Audit Guidelines. Becausethe schedules present 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 theschedules are reported on the modified accrual basis of accounting. Such expenditures are recognized followingthe cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable orare limited as to reimbursement. Negative amounts shown on the schedules represent adjustments or creditsmade in the normal course of business to amounts reported as expenditures in prior years.
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.
The City does not have subrecipients or subrecipient expenditures.