Audit 306738

Accounting Policies: Basis of Presentation The accompanying schedule of expenditures of federal awards includes the federal grant activity of Coastal Bend Wellness Foundation, Inc. and is presented on the modified accrual basis of accounting. 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) and the State of Texas Single Audit Circular. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the general purpose financial statements. All of the Coastal Bend Wellness Foundation, Inc.’s federal and state awards were in the form of cash assistance. Coastal Bend Wellness Foundation had no federal or state funded insurance programs or loan guarantees during the year ended August 31, 2023. Coastal Bend Wellness Foundation, Inc. used its approved indirect cost rate of 24.87% during the year ended August 31, 2023. Indirect Cost Rate The indirect cost rate(s) contained herein are for use on grants with Federal, State, or both governments to which 2 CFR Part 200 – Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards or the State of Texas Uniform Grant Management Standards apply. The rate base for costs is direct salaries and wages. The rate applies to all programs administered by the non-federal entity. To determine the amount of indirect costs to be billed under this agreement, direct salaries and wages should be summed and multiplied by the rate. All other program costs, including fringe benefits associated with direct salaries and wages, should be eliminated. De Minimis Rate Used: Y Rate Explanation: The indirect cost rate(s) contained herein are for use on grants with Federal, State, or both governments to which 2 CFR Part 200 – Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards or the State of Texas Uniform Grant Management Standards apply. The rate base for costs is direct salaries and wages. The rate applies to all programs administered by the non-federal entity. To determine the amount of indirect costs to be billed under this agreement, direct salaries and wages should be summed and multiplied by the rate. All other program costs, including fringe benefits associated with direct salaries and wages, should be eliminated.