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City of Redwood City <br />Single Audit Reports <br />Schedule of Findings and Questioned Costs <br />For the fiscal year ended June 30, 2016 <br />1. REPORTING ENTITY <br />6.1.D. - Page 185 <br />The financial reporting entity, as defined by GASB Codification, consists of the primary government, the <br />City of Redwood City (City), organizations for which the primary government is financially accountable, <br />and other organizations for which the nature and significance of their relationship with the primary <br />government are such that exclusion would cause the reporting entity's financial statements to be misleading <br />or incomplete. <br />The City Council acts as the governing body and is able to impose its will on the following organizations, <br />establishing financial accountability: <br />• Redwood City Facilities and Infrastructure Authority <br />• Redwood City Public Financing Authority <br />2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES <br />Basis of Accounting <br />Funds received under the various grant programs have been recorded within the general funds, capital <br />project funds, special revenue funds and enterprise funds of the City. The City utilizes the modified accrual <br />method of accounting for the general, capital project and special revenue funds and the full accrual method <br />of accounting for enterprise funds. The accompanying schedule of expenditures of federal awards <br />(Schedule) has been prepared on the modified accrual basis of accounting. <br />Schedule of Expenditures of Federal Awards <br />The accompanying Schedule presents the activity of all Federal financial assistance programs of the City. <br />Federal financial assistance received directly from Federal agencies as well as Federal financial assistance <br />passed through the State of California is included in the Schedule. The schedule of expenditures of federal <br />awards was prepared from only the accounts of various grant programs and, therefore, does not present the <br />financial position or results of operations of the City. <br />Pass -Through Entities' Identifuing Number <br />When federal awards are received from a pass-through entity, the Schedule shows, if available, the <br />identifying number assigned by the pass-through entity. When no identifying number is shown, the City <br />determined that no identifying number is assigned for the program or the City was unable to obtain an <br />identifying number from the pass-through entity. <br />Indirect Costs <br />The City did not elect to use the 10% de minimis indirect cost rate. <br />