Audit 35233

Title: Subrecipients Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of City of Fridley, Minnesota under programs of the federal government for the year ended December 31, 2022. The information in this Schedule 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the presentation of, the financial statements. Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. 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. De Minimis Rate Used: N Rate Explanation: The City of Fridley, Minnesota did not elect to use the 10% de minimis cost rate as allowed under the Uniform Guidance. The City of Fridley, Minnesota did not pass any federal funds to subrecipients during 2022.