Audit 86262

Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federalaward activity of City of Kenai, Alaska under programs of the federal government for the year endedJune 30, 2022. The information in this Schedule is presented in accordance with the requirements ofTitle 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, CostPrinciples, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedulepresents only a selected portion of the operations of City of Kenai, Alaska, it is not intended to anddoes not present the net position, changes in net position or cash flows of City of Kenai, Alaska. Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the Uniform Guidance, whereincertain types of expenditures are not allowable or are limited as to reimbursement. Negative amountsshown on the Schedule represent adjustments or credits made in the normal course of business toamounts reported as expenditures in prior years. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.