Audit 29736

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, wherein certain types of expenditures are not allowed or are limited as to reimbursement. The Organization did not have any subrecipients during the fiscal year. 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 (the Schedule) includes the federal award activity of Family Resouce Center, Inc. under programs of the federal government for the 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 Family Resource Center, Inc. it is not intended to and does not present the financial position, changes in net assets, or cash flows of Family Resource Center, Inc.

Title: Relationship to the Financial Statements 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, wherein certain types of expenditures are not allowed or are limited as to reimbursement. The Organization did not have any subrecipients during the fiscal year. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. Federal expenditures, revenues and capital contributions are reported in the financial statements as follows:Grant revenue $1,183,448 Less: state and local grants (132,439)Total federal expenditures per basic financial statements subject to single audit $1,051,009