Audit 51956

Accounting Policies: a.Basis of PresentationThe accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal award activity of the City of Saratoga Springs, New York (City) 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 the Comptroller General of the United States; and the audit 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). The purpose of the Schedule is to present a summary of those activities of the City funded by the federal government or pass-through entities for the year ended December 31, 2022, using the accrual basis of accounting. For purposes of this Schedule, federal awards include assistance provided by a federal agency directly or indirectly in the form of grants, contracts, cooperative agreements, loans and loan guarantees, and other non-cash assistance.Negative amounts, if any, on the Schedule represent adjustments or credits made to prior year expenditures in the normal course of business.b.Relationship to Financial StatementsFederal award revenues are reported in the Citys financial statements as federal aid. The Citys government-wide financial statements are presented using the accrual basis. The Schedule presents only a selected portion of the activities of the City. It is not intended to, and does not, present either the financial position, statement of activities, or other changes in net assets of the City.c.Direct and Indirect CostsExpenditures for direct and indirect costs are recognized as incurred using the accrual method of accounting and in accordance with OMB Circular A-87, Cost Principles for State, Local and Indian Tribal Governments and the Uniform Guidance. Under these cost principles, certain types of expenditures are not allowable or are limited as to reimbursement.d.Matching CostsMatching costs represent the Citys share of certain program costs and are not included in the Schedule. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.