Audit 28512

Accounting Policies: Note 1 - Basis of PresentationThe accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grantactivities of Four Directions Development Corporation under the programs of the federal government forthe year ended September 30, 2022. The information in this schedule is presented in accordance with therequirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles and Audit Requirements of Federal Awards (Uniform Guidance). Becausethe schedule presents only a selected portion of the operations of Four Directions DevelopmentCorporation, it is not intended to and does not present the financial position, changes in net assets or cashflows of Four Directions Development Corporation.Note 2 - Summary of Significant Accounting PoliciesExpenditures on the Schedule are reported on the accrual basis of accounting. Such expenditures arerecognized following the cost principles contained in the Uniform Guidance, wherein certain types ofexpenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbersare presented where available.Note 3 - Subrecipient AgreementsThe organization does not provide grants to subrecipients. De Minimis Rate Used: Y Rate Explanation: The auditee used the de minimis cost rate.