Laserfiche WebLink
City of Orono, Minnesota <br />Notes to the Schedule of Expenditures of Federal Awards <br />For the Year Ended December 31, 2023 <br />1. Basis of Presentation <br />The accompanying schedule of expenditures of federal awards includes the federal grant activity of the City of Orono, <br />Minnesota (the City) under programs of the federal government for the year ended December 31, 2023. The City's <br />reporting entity is defined in Note 1A to the City's financial statements. The information in this schedule is presented in <br />accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative <br />Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule <br />presents only a selected portion of operations of the City, it is not intended to and does not present the financial position, <br />changes in net position or cash flows of the City. <br />2. Summary of Significant Accounting Policies for Expenditures <br />Expenditures reported on this schedule are reported on the modified accrual basis of accounting. Such expenditures are <br />recognized following, as applicable, either the cost principles in OMB Circular A-122, Cost Principles for Non-Profit- <br />Organizations, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform <br />Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of <br />expenditures are not allowable or are limited as to reimbursement. <br />3. Pass-through Entity Identifying Numbers <br />Pass-through entity identifying numbers are presented where available. <br />4. Subrecipients <br />No federal expenditures presented in this schedule were provided to subrecipients. <br />5. Indirect Cost Rate <br />During the year ended December 31, 2023, the City did not elect to use the 10 percent de minimis indirect cost rate. <br />10 <br />through entity identifying numbers are presented where available.through entity identifying numbers are presented where available. <br />SubrecipientsSubrecipients <br />No federal expenditures presented in this schedule were provided to subrecipients. No federal expenditures presented in this schedule were provided to subrecipients. <br />Indirect Cost RateIndirect Cost Rate <br />During the year ended December 31, During the year ended December 31, 20232023, the City did not elect to use the 10 percent de minimis indirect cost rate. , the City did not elect to use the 10 percent de minimis indirect cost rate. <br />208