Audit 57061

Title: Indirect Cost Rate Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the City of Sherman, Texas and is presented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. The City of Sherman, Texas' reporting entity is defined in Note I to the City of Sherman, Texas basic financial statements. Federal awards received directly from federal agencies as well as federal awards passed through other government agencies are included in the schedule. Program Title/ Subrecipient Number Amount - Child and Family Guidance Center of Texoma 14.218 $ 10,140. Housing Authority of the City of Sherman, Texas 14.218 $8,000. Grayson County Crisis Center 14.218 $9,611. Boys & Girls Club of Sherman 14.218 $15,000. CASA of Grayson County 14.218 $10,000. Sherman Youth Sports Association 14.218 $13,773. Grand Central Station 14.218 $15,000. Texoma Family Shelter 14.218 $5,000. Grayson County Children's Advocacy Center 14.218 $5,000. Four Rivers Outreach 14.218 $5,000. Total for 14.218 $ 96,524. Program Title/ Subrecipient Number Amount Grayson County Sheriff's Office 16.738 $ 2,354. City of Denison 16.738 $1,950. Total for 16.738 $ 4,304. De Minimis Rate Used: Y Rate Explanation: The auditee used the de minimis cost rate. The City of Sherman, Texas has elected to use the 10-percent de minimis indirect cost rate allowed under theUniform Guidance.