Audit 317098

Title: Basis of Presentation Accounting Policies: 1. Basis of Presentation Accrual Basis: Expenditures are reported on the accrual basis of accounting. This means that expenses are recorded when incurred, regardless of when cash is disbursed. Cash Basis (if applicable): Some entities might report on a cash basis, where expenditures are recorded when cash payments are made. 2. Indirect Costs Negotiated Rate: If the organization has a negotiated indirect cost rate with the federal government, this rate is used to allocate indirect costs. 3. Summary of Accountig Principles De Minimis Rate Used: N Rate Explanation: Greene Lamp has a negotiated indirect cost rate approved through HHS The accompanying Schedule of Expenditures of Federal and State Awards includes the federal and State grant activity of Greene Lamp under the programs of the federal government and the State of North Carolina for the year ended June 30, 2023. This information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards. Because the Schedule presents only a selected portion of the operations of Greene Lamp, it is not intended to and does not present the financial position, changes in net assets or cash flows of Greene Lamp.

Title: Indirect Costs Accounting Policies: 1. Basis of Presentation Accrual Basis: Expenditures are reported on the accrual basis of accounting. This means that expenses are recorded when incurred, regardless of when cash is disbursed. Cash Basis (if applicable): Some entities might report on a cash basis, where expenditures are recorded when cash payments are made. 2. Indirect Costs Negotiated Rate: If the organization has a negotiated indirect cost rate with the federal government, this rate is used to allocate indirect costs. 3. Summary of Accountig Principles De Minimis Rate Used: N Rate Explanation: Greene Lamp has a negotiated indirect cost rate approved through HHS The Organization negotiated an indirect cost rate agreement which was approved by the Organization's oversight agency, the U.S. Department of Health and Human Services and has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.

Title: Summary of Accounting Principles Accounting Policies: 1. Basis of Presentation Accrual Basis: Expenditures are reported on the accrual basis of accounting. This means that expenses are recorded when incurred, regardless of when cash is disbursed. Cash Basis (if applicable): Some entities might report on a cash basis, where expenditures are recorded when cash payments are made. 2. Indirect Costs Negotiated Rate: If the organization has a negotiated indirect cost rate with the federal government, this rate is used to allocate indirect costs. 3. Summary of Accountig Principles De Minimis Rate Used: N Rate Explanation: Greene Lamp has a negotiated indirect cost rate approved through HHS Expenditures reported in the Schedule of Expenditures of Federal and State Awards are reported on the modified accrual basis of accounting.