Audit 174134

Accounting Policies: Basis of Presentation: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Northwest Regional Workforce Investment Board, Inc. (the Board) under programs of the federal government for the year ended June 30, 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). Because the Schedule presents only a selected portion of the operations of the Board, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Board. Summary of significant accounting policies: Expenditures reported on the Schedule are reported on the 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. Basic Financial Statements: The accounting policies of the Board conform to accounting principles generally accepted in the United States of America as applicable to nonprofit organizations. Indirect Cost Rate: The Board has applied a cost allocation plan based on an indirect cost rate agreement, providing for an indirect cost rate of 5.83 percent, which has been approved by United States Department of Labor. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.