Audit 298716

Title: NOTE 1 - BASIS OF PRESENTATION Accounting Policies: Basis of Accounting - Expenditures reported on the schedule 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: N Rate Explanation: The grant agreements the Organization has signed contain specified dollar amounts or percentages of allowable indirect costs. The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of Western Maryland Resource Conservation and Development Area, Inc. under programs of the federal government for the years 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 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 operation of Western Maryland Resource Conservation and Development Area, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Western Maryland Resource Conservation and Development Area, Inc.

Title: NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting Policies: Basis of Accounting - Expenditures reported on the schedule 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: N Rate Explanation: The grant agreements the Organization has signed contain specified dollar amounts or percentages of allowable indirect costs. Basis of Accounting - Expenditures reported on the schedule 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 - Western Maryland Resource Conservation and Development Area, Inc. has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. The grant agreements the Organization has signed contain specified dollar amounts or percentages of allowable indirect costs. Subrecipients - The Organization has not made payments to any entities considered subrecipients under its Federal programs.