Audit 25446

Accounting Policies: NOTE A--SIGNIFICANT ACCOUNTING POLICIESBasis of Presentation---The accompanying schedule of expenditures of federal awards (the Schedule)includes the federal award activity of Guernsey, Monroe, Noble Tri-County Community Action Committee,Inc. under programs of the federal government for the year ended July 31, 2022. The information in thisSchedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part200, 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 Guernsey,Monroe, Noble Tri-County Community Action Committee, Inc., it is not intended to and does not present thefinancial position, changes in net assets, or cash flows of Guernsey, Monroe, Noble Tri-County CommunityAction Committee, Inc.Basis of Accounting---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, whereincertain types of expenditures are not allowable or limited as to reimbursement.Indirect Costs---The Committee did not elect to use the 10% de minimis indirect cost rate. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.