Audit 14235

Title: Basis of Presentation Accounting Policies: Expenditures reported on the Schedule are reported on a modified cash basis of accouting, which recognizes expenditures in the period the liabilties are paid. Such expenditures are recognized following the cost principles contained in the Unifirm Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. No federal financial assistance has been provided to subrecipient. De Minimis Rate Used: Y Rate Explanation: The auditee used the de minimis cost rate The accompanying schedule of federal awards (the "Schedule") includes the federal grant activity of New Hope Fellowship 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 preparation of, the basic financial statements. Because the schedule presents only a selected portion of the operations of New Hope Fellowship, it is not intended to and does not present the financial position or changes in activities of New Hope Fellowship.