Audit 317979

Title: Note B - Summary of Significant Accounting Policies Accounting Policies: The accompany schedule of expenditures of federal awards (the schedule) includes the federal grant activity of Voices of Hope - Lexington, 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 Titel 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requiements, Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in, or used in the preparation of, the basic financial statements may differ from those numbers. De Minimis Rate Used: N Rate Explanation: Voices of Hope - Lexington, Inc. has elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. Expenditures reported on Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, Cost Principles for State and Local Governments, wherein certain types of expenditures are not allowable or are limited as to reimbursement.