Audit 291059

Title: NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting Policies: Basis of presentation The accompanying schedule of expenditures of federal awards includes the federal award activity of the Organization for the year ended June 30, 2023. 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"). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of, the basic financial statements. Cost principles Expenditures reported on the schedule of expenditures of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: Y Rate Explanation: The Organization elected to use the 10 percent de minimis indirect cost rate, as permitted under the Uniform Guidance, to provide for indirect cost reimbursement on select federal awards. Basis of presentation The accompanying schedule of expenditures of federal awards includes the federal award activity of the Organization for the year ended June 30, 2023. 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"). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of, the basic financial statements. Cost principles Expenditures reported on the schedule of expenditures of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Indirect costs The Organization elected to use the 10 percent de minimis indirect cost rate, as permitted under the Uniform Guidance, to provide for indirect cost reimbursement on select federal awards.