Audit 300950

Accounting Policies: NOTE 1 - Basis of Presentation the accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Metro Community Ministries, Inc. under the programs of the federal government for the year ended June 30, 2023. The information in this Schedule is presented in accorance 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 Metro Community Ministries, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Metro Community Ministries, Inc. Note 2 - Summary of Significant Accounting Policies - Expeditures are reported on the Schedule 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. Note 3 - Indirect Cost Rate - Metro Community Ministries, Inc. has not elected to use the 10-percent de minimis cost reate allowed under the Uniform Guidance. Note 4 - Loans Outstanding - Metro Community Ministries, Inc. did not have any loan balance outstanding at June 30, 2023. Note 5 - Cluster - Metro Community Ministries, Inc. did not have any federal clusters. Note 6 - Subrecipients - Metro Community Ministries, Inc. did not have any subrecipients for the year ended June 30, 2023. Note 7 - Exempt Status - Metro Community Ministries, Inc. is exempt from income taxation under IRC 501c3. De Minimis Rate Used: N Rate Explanation: The auditee did not elect the de minimis cost rate.