Audit 174170

Accounting Policies: The Company's Schedule has been prepared on the basis of accounting practices prescribed or permitted by the New York State Department of Financial Services (statutory basis) and is not intended to be presented in conformity with accounting principles generally accepted in the United States of America. The Company did not elect to use the 10% de minimis indirect cost rate as allowed under Uniform Guidance. The accounting practices that are prescribed or permitted under statutory authority which may vary from accounting principles generally accepted in the United States of America do not have a material impact on the accompanying schedule of expenditures of federal awards statutory basis. De Minimis Rate Used: N Rate Explanation: The Company's Schedule has been prepared on the basis of accounting practices prescribed or permitted by the New York State Department of Financial Services (statutory basis) and is not intended to be presented in conformity with accounting principles generally accepted in the United States of America. The Company did not elect to use the 10% de minimis indirect cost rate as allowed under Uniform Guidance. The accounting practices that are prescribed or permitted under statutory authority which may vary from accounting principles generally accepted in the United States of America do not have a material impact on the accompanying schedule of expenditures of federal awards statutory basis.