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6.E. - Page 14 of 47 City of Redwood City Single Audit Reports Notes to Schedule of Expenditures of Federal Awards For the fiscal year ended June 30, 2018 1. REPORTING ENTITY The financial reporting entity, as defined by GASB Codification, consists of the primary government, the City of Redwood City (City), organizations for which the primary government is financially accountable, and other organizations for which the nature and significance of their relationship with the primary government are such that exclusion would cause the reporting entity's financial statements to be misleading or incomplete. The City Council acts as the governing body and is able to impose its will on the following organizations, establishing financial accountability: • Redwood City Facilities and Infrastructure Authority • Redwood City Public Financing Authority 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Accounting Funds received under the various grant programs have been recorded within the general funds, capital project funds, special revenue funds and enterprise funds of the City. The City utilizes the modified accrual method of accounting for the general, capital project and special revenue funds and the full accrual method of accounting for enterprise funds. The accompanying Schedule of Expenditures of Federal Awards (Schedule) is presented in accordance with the requirements of U.S. code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in, the preparation of the City's basic financial statements. Schedule of Expenditures of Federal Awards The accompanying Schedule presents the activity of all Federal financial assistance programs of the City. Federal financial assistance received directly from Federal agencies as well as Federal financial assistance passed through the State of California, Redwood City School District, City of Daly City, Alameda County Sheriff's Department, and California State Library are included in the Schedule. The schedule of expenditures of federal awards was prepared from only the accounts of various grant programs and, therefore, does not present the financial position or results of operations of the City. Pass -Through Entities'Identifying Number When federal awards are received from a pass-through entity, the Schedule shows, if available, the identifying number assigned by the pass-through entity. Indirect Costs The City did not elect to use the 10% de minimis indirect cost rate. 267