Audit 301647

Title: General Information 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 the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. The amounts reported in this Schedule as expenditures may differ from certain financial reports submitted to funding agencies because those reports may be submitted on either a cash or modified accrual basis of accounting.Expenditures of federal, state, and city awards are reported on the statement of activities as operating expenses. In certain programs, the expenditures reported in the basic financial statements differ from the expenditures reported in the Schedule because other program expenditures and expenditures may exceed contract budget limitations, and are therefore not included as expenditures of federal, state, and city awards. De Minimis Rate Used: N Rate Explanation: Urban Affairs Coalition has elected not to use the 10 percent de minimus indirect cost rate allowed under Uniform Guidance. The accompanying schedule of expenditures of federal, state, and city awards (the Schedule) includes the federal award activity of Urban Affairs Coalition 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 Urban Affairs Coalition, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Urban Affairs Coalition.