Title: Loan/loan guarantee outstanding balances
Accounting Policies: Expenditures reported on the accompanying Schedule are reported on the modified accrual basis of accounting, which is described in Note 1 to the Citys financial statements. Such expenditures are recognized following the cost principles contained in accordance with the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in this schedule may differ from amounts presented, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
CAPITALIZATION GRANTS FOR CLEAN WATER STATE REVOLVING FUNDS (66.458) - Balances outstanding at the end of the audit period were 3035991.
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the accompanying Schedule are reported on the modified accrual basis of accounting, which is described in Note 1 to the Citys financial statements. Such expenditures are recognized following the cost principles contained in accordance with the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in this schedule may differ from amounts presented, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of the City of Harahan (the City) under programs of the federal government for the year ended December 31, 2022. The information in this Schedule is presented 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). The Citys reporting entity is defined in Note 1 to the financial statements for the year ended December 31, 2022. Federal awards received directly from federal agencies, as well as federal awards passed through other government agencies, are included on the Schedule.
Title: Relationship to Financial Statements
Accounting Policies: Expenditures reported on the accompanying Schedule are reported on the modified accrual basis of accounting, which is described in Note 1 to the Citys financial statements. Such expenditures are recognized following the cost principles contained in accordance with the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in this schedule may differ from amounts presented, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Federal award expenditures are reported in the Citys financial statements as follows: Federal Sources General fund $126,444FEMA fund 3,128,117Total federal revenue 3,254,561Plus:Federally funded loan proceeds 487,128Total adjustments 487,128Total Schedule of Expenditures of Federal Awards $3,741,689
Title: Loan Assistance Received
Accounting Policies: Expenditures reported on the accompanying Schedule are reported on the modified accrual basis of accounting, which is described in Note 1 to the Citys financial statements. Such expenditures are recognized following the cost principles contained in accordance with the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in this schedule may differ from amounts presented, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The City received loan assistance for the following program: Program - Capitalization Grants for Clean Water State Revolving Funds Assistance Listing Number - 66.458 Outstanding Balance as of 12/31/2022 - $3,035,991 Amount of New Loans Made During the Year Ended 12/31/2022 That Are Federally Funded - $487,128
Title: Amounts Passed Through to Subrecipients
Accounting Policies: Expenditures reported on the accompanying Schedule are reported on the modified accrual basis of accounting, which is described in Note 1 to the Citys financial statements. Such expenditures are recognized following the cost principles contained in accordance with the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in this schedule may differ from amounts presented, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
During the year ended December 31, 2022, the City did not pass through any federal funds to subrecipients.
Title: Disaster Grant Public Assistance Listing 97.036
Accounting Policies: Expenditures reported on the accompanying Schedule are reported on the modified accrual basis of accounting, which is described in Note 1 to the Citys financial statements. Such expenditures are recognized following the cost principles contained in accordance with the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in this schedule may differ from amounts presented, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The FEMA grant expenditures are reported on the SEFA when 1) FEMA has approved the project worksheet (PW), and 2) eligible expenditures have been incurred. At December 31, 2022, FEMA approved $3,251,631 of eligible expenditures with $361,483 incurred at December 31, 2022, $2,766,634 incurred at December 31, 2021, and $123,514 incurred prior to December 31, 2021.
Title: De Minimis Cost Rate
Accounting Policies: Expenditures reported on the accompanying Schedule are reported on the modified accrual basis of accounting, which is described in Note 1 to the Citys financial statements. Such expenditures are recognized following the cost principles contained in accordance with the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in this schedule may differ from amounts presented, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
During the year ended December 31, 2022, the City has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.