Audit 27634

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 OMB Circular A-122,Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Mercer County Area Agency on Aging, Inc. and Subsidiary has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The accompanying schedule of expenditures of federal awards (Schedule) includes the federal grant activity of the Mercer County Area Agency on Aging, Inc. and Subsidiary under programs of the federal government for the fiscal 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 Mercer County Area Agency on Aging, Inc. and Subsidiary, it is not intended to and does not present the financial position, changes in net assets or cash flows of Mercer County Area Agency on Aging, Inc. and Subsidiary.