Audit 362623

Accounting Policies: This schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of City of Fitzgerald, Georgia under programs of the federal government for the year ended December 31, 2024. 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). Because this Schedule presents only a selected portion of the operations of City of Fitzgerald, Georgia, it is not intended to and does not present the financial position, changes in net assets, or cash flows of City of Fitzgerald, Georgia. Significant Accounting Policies Expenditures reported on the Schedule are presented 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. Negative amounts shown in the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Total Federal Expenditures include $163,680 in expenditures that were incurred in prior years as follows: 10.766 Community Facilities Loans and Grants $75,000; 20.106 Airport Improvement Program $87,211; 97.036 Disaster Grants-Public Assistance (Presidentially Declared Disasters) $1,469. De Minimis Rate Used: N Rate Explanation: City of Fitzgerald, Georgia has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.