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Cit 7.1.G. _Page 177 ity <br /> Single Audit Reports <br /> Notes to Schedule of Expenditures of Federal Awards <br /> For the year ended June 30, 2013 <br /> 1. REPORTING ENTITY <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 <br /> misleading 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 /> • The Redevelopment Agency of the City of Redwood City <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 <br /> accrual method of accounting for the general, capital project and special revenue funds and the full accrual <br /> method 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 <br /> the financial position or results of operations of the City. <br /> 3. SUBRECIPIENTS <br /> Of the federal expenditures presented in the Schedule, the City provided federal awards to <br /> subrecipients as follows: <br /> Program Title CFDA # Total Amount Paid <br /> Community Development Block 14.218 $ 257,324 <br /> Grant/ Entitlement Grants <br /> 9 <br />