Audit 308824

Title: Note A - 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. De Minimis Rate Used: N Rate Explanation: Partner's Resource Network, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards includes the federal grant activity of Partners Resource Network, Inc., under programs of the federal government for the year ended September 30, 2023 and is presented on the 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). Because the schedule presents only a selected portion of the operations of Partners Resource Network, Inc., it is not intended to and does not present the financial position, changes in net position, or cash flows of Partners Resource Network, Inc.

Title: Note C - Contingencies 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. De Minimis Rate Used: N Rate Explanation: Partner's Resource Network, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. These federal and state programs are subject to financial and compliance audits by grantor agencies, which, if instances of material noncompliance are found, may result in disallowed expenditures, and affect Partners Resource Network, Inc.'s continued participation in specific programs. The amount of expenditures which may be disallowed by the grantor cannot be determined at this time, although the organization expects such amounts, if any, to be immaterial.

Title: Note D - Sub-recipients 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. De Minimis Rate Used: N Rate Explanation: Partner's Resource Network, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. There are no amounts passed to sub-recipients.