Audit 26884

Title: NOTE 4 MAJOR PROGRAM Accounting Policies: NOTE 1 - BASIS OF PRESENTATION - The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Pacific Island Health Officers Association, Inc. (a not-for-profit organization; the Organization) under programs of the federal government for the year ended June 30, 2022. The information on this Schedule is prepared 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 Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization. NOTE 2 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 OMB Circular A-122, Cost Principles for Non-Profit Organizations (codified in 2 CFR Part 230) and Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement. De Minimis Rate Used: Y Rate Explanation: The auditee used the de minimis cost rate. NOTE 3 INDIRECT COST RATE The Organization has elected to phase in the use of the 10-percent de minimis indirect cost rate on new grants as allowed under the Uniform Guidance. * Denotes major program, which compromise 90% of total expenditures of federal awards.