Audit 326852

Title: NOTE A – BASIS OF PRESENTATION Accounting Policies: Expenditures reported in the SEFA has been prepared on the accrual basis of accounting, the same basis of accounting the City uses to prepare the financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Grant revenues are recorded for financial reporting purposes when the City has met the qualifications for the respective grants.During the fiscal year the City received FEMA reimbursements for Hurricane Isaac and Hurricane Ida. These federal reimbursements under ALN 97.036 relate to expenditures reported in a prior year(s) and not reflected on the SEFA for the year ended March 31, 2024. De Minimis Rate Used: N Rate Explanation: Auditee did not use the de minimis cost rate The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes the federal award activity of City under programs of the Federal government for the year ended March 31, 2024. The information in the SEFA is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the SEFA presents only a selected portion of the operations of the City, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the City.

Title: NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting Policies: Expenditures reported in the SEFA has been prepared on the accrual basis of accounting, the same basis of accounting the City uses to prepare the financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Grant revenues are recorded for financial reporting purposes when the City has met the qualifications for the respective grants.During the fiscal year the City received FEMA reimbursements for Hurricane Isaac and Hurricane Ida. These federal reimbursements under ALN 97.036 relate to expenditures reported in a prior year(s) and not reflected on the SEFA for the year ended March 31, 2024. De Minimis Rate Used: N Rate Explanation: Auditee did not use the de minimis cost rate Expenditures reported in the SEFA has been prepared on the accrual basis of accounting, the same basis of accounting the City uses to prepare the financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Grant revenues are recorded for financial reporting purposes when the City has met the qualifications for the respective grants. During the fiscal year the City received FEMA reimbursements for Hurricane Isaac and Hurricane Ida. These federal reimbursements under ALN 97.036 relate to expenditures reported in a prior year(s) and not reflected on the SEFA for the year ended March 31, 2024.

Title: NOTE C – INDIRECT COST RATE Accounting Policies: Expenditures reported in the SEFA has been prepared on the accrual basis of accounting, the same basis of accounting the City uses to prepare the financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Grant revenues are recorded for financial reporting purposes when the City has met the qualifications for the respective grants.During the fiscal year the City received FEMA reimbursements for Hurricane Isaac and Hurricane Ida. These federal reimbursements under ALN 97.036 relate to expenditures reported in a prior year(s) and not reflected on the SEFA for the year ended March 31, 2024. De Minimis Rate Used: N Rate Explanation: Auditee did not use the de minimis cost rate The City has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.