Audit 311171

Title: (1) Scope of Audit Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the Organization and is presented on the accrual basis of accounting, consistent with the manner in which the Organization maintains its accounting records. The information in this schedule is presented in accordance with the audit 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). The Organization is currently allocating administrative costs to program awards based upon criteria prescribed in those program awards. De Minimis Rate Used: N Rate Explanation: For fiscal year 2023, the Organization did not utilize an indirect cost rate. Todu Guam Foundation, Ltd. was incorporated as a Guam nonprofit corporation on January 19, 2017. The purpose of the nonprofit corporation is to provide medical and preventive care, education, and support at no cost to low-income children and families, to the uninsured and under-insured children and families, support to self-pay patients, or those with third party payors; and to provide screening, treatment and support services, as well as other appropriate services, for all individuals affected by cancer among the people of Guam. Programs that receive funding are selected in open competition on the basis of established and publicized criteria. The entire program of regrants is intended to make the organization more accessible to the general public.

Title: (2) Summary of Significant Accounting Policies Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the Organization and is presented on the accrual basis of accounting, consistent with the manner in which the Organization maintains its accounting records. The information in this schedule is presented in accordance with the audit 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). The Organization is currently allocating administrative costs to program awards based upon criteria prescribed in those program awards. De Minimis Rate Used: N Rate Explanation: For fiscal year 2023, the Organization did not utilize an indirect cost rate. Basis of Accounting: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the Organization and is presented on the accrual basis of accounting, consistent with the manner in which the Organization maintains its accounting records. The information in this schedule is presented in accordance with the audit 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). Cost Allocation: The Organization is currently allocating administrative costs to program awards based upon criteria prescribed in those program awards.

Title: (3) Indirect Cost Allocation Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the Organization and is presented on the accrual basis of accounting, consistent with the manner in which the Organization maintains its accounting records. The information in this schedule is presented in accordance with the audit 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). The Organization is currently allocating administrative costs to program awards based upon criteria prescribed in those program awards. De Minimis Rate Used: N Rate Explanation: For fiscal year 2023, the Organization did not utilize an indirect cost rate. For fiscal year 2023, the Organization did not utilize an indirect cost rate.