Audit 302514

Title: Note 1 - Basis of Presentation Accounting Policies: The Schedule is presented using the accrual basis of accounting, except for amounts passed through to subrecipients, which are reported when the disbursement is made to the subrecipient. For the purposes of the Schedule, federal awards include all federal assistance entered into directly between the Organization and the federal government and also between the Organization and other primary federal awards recipients. De Minimis Rate Used: N Rate Explanation: The Organization cannot use the 10 percent de minimis indirect cost rate as allowed by the Uniform Guidance, as they have an established negotiated indirect cost rate agreement with the United States Department of Health and Human Services. The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant transactions of the Catholic Medical Mission Board, Inc. (the "Organization") for the year ended September 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 (the “Uniform Guidance”). Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets of cash flows of the Organization.

Title: Note 2 - Summary of Significant Accounting Policies Accounting Policies: The Schedule is presented using the accrual basis of accounting, except for amounts passed through to subrecipients, which are reported when the disbursement is made to the subrecipient. For the purposes of the Schedule, federal awards include all federal assistance entered into directly between the Organization and the federal government and also between the Organization and other primary federal awards recipients. De Minimis Rate Used: N Rate Explanation: The Organization cannot use the 10 percent de minimis indirect cost rate as allowed by the Uniform Guidance, as they have an established negotiated indirect cost rate agreement with the United States Department of Health and Human Services. The Schedule is presented using the accrual basis of accounting, except for amounts passed through to subrecipients, which are reported when the disbursement is made to the subrecipient. For the purposes of the Schedule, federal awards include all federal assistance entered into directly between the Organization and the federal government and also between the Organization and other primary federal awards recipients.

Title: Note 3 - Indirect Cost Rates Accounting Policies: The Schedule is presented using the accrual basis of accounting, except for amounts passed through to subrecipients, which are reported when the disbursement is made to the subrecipient. For the purposes of the Schedule, federal awards include all federal assistance entered into directly between the Organization and the federal government and also between the Organization and other primary federal awards recipients. De Minimis Rate Used: N Rate Explanation: The Organization cannot use the 10 percent de minimis indirect cost rate as allowed by the Uniform Guidance, as they have an established negotiated indirect cost rate agreement with the United States Department of Health and Human Services. The Organization cannot use the 10 percent de minimis indirect cost rate as allowed by the Uniform Guidance, as they have an established negotiated indirect costr ate agreement with the United States Department of Health and Human Services.