Audit 42600

Title: Loan/loan guarantee outstanding balances Accounting Policies: Where the City of Binghamton, New York (the City)receives funds from government entity other than the federal government(pass-through),the funds are accumulated based upon the Assistance Listing(AL)number when advised by the pass-through grantor. Identifying numbers, other than AL numbers, which may be assigned by pass through grantors, are not maintained in the Citys financial management system. City management has identified certain pass-through identifying numbers and included them in the schedule of expenditures of federal awards (SEFA). The SEFA is presented in accordance with accounting principles generally accepted in the United States of America and is derived from the Citys general ledger. Federal expenditures are recorded when an allowable cost is incurred under the applicable program and is due and payable. For programs with funding ceilings and caps, federal expenditures are only recorded and presented in the SEFA up to such amounts. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS (14.218) - Balances outstanding at the end of the audit period were 1961724. COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS (14.218) - Balances outstanding at the end of the audit period were 122722. HOME INVESTMENT PARTNERSHIPS PROGRAM (14.239) - Balances outstanding at the end of the audit period were 405125.