Audit 309037

Title: Basis of Presentation Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Hawaiian Islands Land Trust, d.b.a. Hawai‘i Land Trust (the Organization) 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). Therefore, certain amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. De Minimis Rate Used: N Rate Explanation: The Organization has not elected 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 the Hawaiian Islands Land Trust, d.b.a. Hawai‘i Land Trust (the Organization) 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). Therefore, certain amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.

Title: Indirect Cost Rates Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Hawaiian Islands Land Trust, d.b.a. Hawai‘i Land Trust (the Organization) 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). Therefore, certain amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. De Minimis Rate Used: N Rate Explanation: The Organization has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The Organization has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.