Audit 317222

Title: Note 1. Basis of Presentation Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. De Minimis Rate Used: N Rate Explanation: Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement. Partners of the Americas, Inc. has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance (see Consolidated Indirect Rate and Fringe Benefit Rate Calculations). The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the Federal award activity of Partners of the Americas, Inc. under programs of the Federal Government for the year ended December 31, 2023. 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 of the Americas, Inc., it is not intended to and does not present the financial position, changes in net assets or cash flows of Partners of the Americas, Inc.

Title: Note 2. Summary of Significant Accounting Policies Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. De Minimis Rate Used: N Rate Explanation: Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement. Partners of the Americas, Inc. has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance (see Consolidated Indirect Rate and Fringe Benefit Rate Calculations). Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement. Partners of the Americas, Inc. has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance (see Consolidated Indirect Rate and Fringe Benefit Rate Calculations).