Title: NOTE 3 - LOANS RECEIVABLE OUTSTANDING
Accounting Policies: NOTE 1 - GENERAL The accompanying Schedule of Expenditures of Federal Awards, presents the activity
of all federal award activity of the City of Monroe (the City) under programs of the federal government for the
year ended April 30, 2023. 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). 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.
NOTE 2 - BASIS OF ACCOUNTING The accompanying Schedule of Expenditures of Federal Awards is
presented using the modified accrual basis of accounting for governmental funds and accrual basis for proprietary
funds, which is described in Note 1 to the City's primary government financial statements. Such expenditures are
recognized following the cost principles contained in the Uniform Guidance, where in certain types of
expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not elect to use the 10-percent de minimis
indirect cost rate allowed under the Uniform Guidance.
NOTE 3 - LOANS RECEIVABLE OUTSTANDING The City has loans receivable outstanding under·
Assistance Listing #14.218 CDBG Entitlement Grants of $47,579 and under Assistance Listing #14.239 Home
Investment Partnership Grants of $91,613 at April 30, 2023.
Assistance Listing #14.218 CDBG Entitlement Grants of $47,579 and under Assistance Listing #14.239 Home
Investment Partnership Grants of $91,613 at April 30, 2023.
Title: NOTE 4 - RELATIONSHIP OF THE SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS TO THE PRIMARY GOVERNMENT FINANCIAL STATEMENTS
Accounting Policies: NOTE 1 - GENERAL The accompanying Schedule of Expenditures of Federal Awards, presents the activity
of all federal award activity of the City of Monroe (the City) under programs of the federal government for the
year ended April 30, 2023. 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). 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.
NOTE 2 - BASIS OF ACCOUNTING The accompanying Schedule of Expenditures of Federal Awards is
presented using the modified accrual basis of accounting for governmental funds and accrual basis for proprietary
funds, which is described in Note 1 to the City's primary government financial statements. Such expenditures are
recognized following the cost principles contained in the Uniform Guidance, where in certain types of
expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not elect to use the 10-percent de minimis
indirect cost rate allowed under the Uniform Guidance.
NOTE 4 - RELATIONSHIP OF THE SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS TO
THE PRIMARY GOVERNMENT FINANCIAL STATEMENTS The following reconciliation is provided
to help the reader of the City's financial statements and supplementary information relate such information to the
Schedule of Expenditures of Federal Awards for the year ended April 30, 2023:
Governmental Funds:
Major funds:
General Fund $ 1,647,900
Capital Infrastructure 3,422,563
American Rescue Plan Act 7,762,060
Nonmajor special revenue funds:
Community Development Block Grant 1,200,682
CDBG Home 307,062
Justice Assistance Program 64,089
Intergovernmental Donations 531
Administrative Economic Development 57,300
Brownfields Assessment Grant 85,502
Coronavirus Supplemental Funding 72,947
Lead Hazard Control Grant 17,491
Nonmajor capital project funds:
Kansas Lane Connector 15,624
Kansas Lane Extension 2,270,632
Proprietary Funds:
Major funds:
Monroe Regional Airport 4,246,286
Nonmajor Enterprise Funds:
Monroe Transit System 843,556
Total $ 22,014,225