Audit 296819

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 Uniform Guidance and NJOMB 15-08, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: Goodwill has not elected to use the 10% de-minimis indirect cost rate allowed under Uniform Guidance. The accompanying schedule of expenditures of federal and state awards (the Schedule) includes the federal awards of Goodwill Industries of Greater New York and Northern New Jersey, Inc. (Goodwill) for the year ended June 30, 2023. The information in the 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 (Uniform Guidance) and the State Single Audit Guidelines in accordance with the requirements of the State of New Jersey, Department of Treasury, OMB Circular 15-08, Single Audit Policy for Recipients of Federal Grants, State Grants and State Aid (NJOMB 15-08). Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in the preparation of the June 30, 2023 basic financial statements. Because the Schedule presents only a select portion of the operations of Goodwill, it is not intended to and does not present the financial position, change in net assets and cash flows of Goodwill.