Audit 303316

Title: Note 1 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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown in the SEFA represent adjustments or credits made in the ordinary course of business to amounts reported as expenditures in prior years De Minimis Rate Used: N Rate Explanation: The VAC has elected not to use the 10% de minimus indirect cost rate as allowed in the Uniform Guidance. The accompanying schedule of expenditures of federal awards (the SEFA) includes the federal activity of the Valley AIDS Council dba Westbrook Clinic (VAC) under federal programs for the year ended August 31, 2023. The information in this SEFA 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 SEFA presents only a selected portion of the operations of VAC, it is not intended to and does not present the financial position, changes in net assets, or cash flows of VAC. The SEFA presents the total federal awards expended for each federal and state program during the fiscal year ending August 31, 2023.

Title: Note 2 Summary of Significant Accounting Policies 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. Negative amounts, if any, shown in the SEFA represent adjustments or credits made in the ordinary course of business to amounts reported as expenditures in prior years De Minimis Rate Used: N Rate Explanation: The VAC has elected not to use the 10% de minimus indirect cost rate as allowed in the Uniform Guidance. 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. Negative amounts, if any, shown in the SEFA represent adjustments or credits made in the ordinary course of business to amounts reported as expenditures in prior years.

Title: Note 3. Indirect Cost Rate 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. Negative amounts, if any, shown in the SEFA represent adjustments or credits made in the ordinary course of business to amounts reported as expenditures in prior years De Minimis Rate Used: N Rate Explanation: The VAC has elected not to use the 10% de minimus indirect cost rate as allowed in the Uniform Guidance. The VAC has elected not to use the 10% de minimus indirect cost rate as allowed in the Uniform Guidance.