Audit 291363

Title: Relationship of Schedule of Expenditures of Federal Awards to Financial Statements. Accounting Policies: Basis of Accounting The accompanying Schedule of Expenditures of Federal Awards (the Schedule) summarizes the expenditures of CRF under programs of the federal government 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Because the Schedule presents only a selected portion of the operation of CRF, it is not intended to and does not present the financial position, changes in net assets and cash flows of CRF. This Schedule is prepared on the same basis of accounting as CRF financial statements. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursements. De Minimis Rate Used: N Rate Explanation: CRF did not use the 10% de minimis cost rate as allowed under the Uniform Guidance Consistent with management's policy, federal awards are recorded in various revenue categories. As a result, the amount of total federal awards on the Schedule does not agree to the total grant revenue on the Statement of Activities.