Audit 12900

Accounting Policies: 1.Basis of Accounting The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activityof Transition Projects, Inc. and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with requirements of Title 2 Code ofFederal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in thisschedule may differ from amounts presented in, or used in the preparation of, the basic financialstatements. 2.Assistance Listing Programs The program titles and Assistance Listing (“AL”) numbers were obtained from the federal or pass-through grantor or sam.gov. 3.Major and Nonmajor Federal Financial Assistance Programs Federal financial assistance programs with identical assistance (AL) numbers are combined indetermining whether the programs are major or nonmajor. Type A federal assistance programs arethose with combined expenditures of $750,000 or more during a fiscal year. Type B federal financialassistance programs are those with combined expenditures of less than $750,000 during a fiscalyear. De Minimis Rate Used: N Rate Explanation: The Organization has elected not to use the 10% de minimis indirect cost rate allowed under theUniform Guidance.