Audit 308451

Title: NON-CASH AWARDS Accounting Policies: The Schedule of Expenditures of Federal Awards includes the federal grant activity of the City of Valdosta, Georgia (the “City”) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200 Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements. De Minimis Rate Used: N Rate Explanation: The City elected not to use the 10% de minimis cost rate for the year ended June 30, 2023. The City did not receive non-cash federal awards during the year ended June 30, 2023.

Title: SUBRECIPIENTS Accounting Policies: The Schedule of Expenditures of Federal Awards includes the federal grant activity of the City of Valdosta, Georgia (the “City”) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200 Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements. De Minimis Rate Used: N Rate Explanation: The City elected not to use the 10% de minimis cost rate for the year ended June 30, 2023. The City did not pass through any funds to subrecipients during the year ended June 30, 2023.