Audit 249335

Title: Basis of Presentation 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 UniformGuidance for nonprofit organizations, wherein certain types of expenditures are notallowable or are limited as in reimbursement. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The accompanying schedule of expenditures of federal and state awards (theSchedule) includes the federal grant activity of California Young World, Inc. underprograms of the federal government for the year ended June 30, 2022. The informationin this Schedule is presented in accordance with the requirements of Title 2 U.C. Codeof Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principlesand Audit Requirements for Federal Awards (Uniform Guidance). Because theSchedule presents only a selected portion of the operations of California Young World,Inc., it is not intended to and does not present the financial position, changes in netassets, or cash flows of California Young World, Inc. Pass through entity identifyingnumbers are presented where available.