Audit 48719

Accounting Policies: GeneralThe accompanying schedule of expenditures of federal awards (SEFA) presents the activity of allfederal financial assistance programs of the City and Borough of Juneau, Alaska (City andBorough). The information in the SEFA is presented in accordance with the requirements of Title2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, CostPrinciples, and Audit Requirements for Federal Awards (Uniform Guidance). Federal awardsreceived directly from federal agencies, as well as federal financial assistance passed throughthe State of Alaska and other agencies, are included in the SEFA. The City and Borough'sreporting entity is defined in Note 1 to the City and Boroughs basic financial statements.Basis of AccountingExpenditures reported in the accompanying SEFA are presented using the modified-accrual andaccrual basis of accounting, which are described in Note 1 to the City and Boroughs basicfinancial statements. Such expenditures are recognized following, as applicable, either the costprinciples in OMB Circular A-87, Cost Principles for State, Local and Tribal Governments, or thecost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements for Federal Awards,wherein certain types of expenditures are not allowable or are limited as to reimbursement. TheCity and Borough has elected not to use the 10-percent de minimis indirect cost rate as allowedunder the Uniform Guidance. Negative amounts shown on the SEFA represent adjustments orcredits made in the normal course of business to amounts reported as expenditures in the prioryear.Relationship to Basic Financial StatementsThe following is a reconciliation of federal revenues reported in the City and Boroughs basicfinancial statements to federal expenditures reported in the schedule of expenditures of federalawards:Federal revenues as reported in the basic financial statements:Statement of Revenues, Expenditures, and Changes in Fund Balances -Governmental Funds $ 33,088,627Statement of Revenues, Expenses, and Changes in Net Position -Proprietary Funds 12,224,148Plus:Amounts reported as federal expenditures in the schedule ofexpenditures of federal awards, but not reported as federal revenuein the basic financial statements:Federal grants passed through the State of Alaska 7,669,348Federal grant and loan sources reported as capital contributionsin Juneau International Airport, Boat Harbors, and Dockenterprise funds 1,545,395Provider Relief Funds adjustment 647,780Less:Amounts reported as federal revenue in the basic financialstatements but not included in the schedule of expenditures offederal awards:Amounts reported as federal revenue in the basic financialstatements but do not meet the definition of federal financialassistance (78,369)Payments of lieu of taxes (2,527,473)Juneau International Airport Transportation SecurityAdministration reimbursement reported as federal revenue (735,729)Total federal expenditures per schedule of expenditures offederal awards $ 51,833,727Donated Federal Assistance Not Included in the SEFA (Unaudited)None to report. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.