Audit 318488

Title: Basis of Presentation Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement. Such expenditures are recognized following, as applicable, either the cost principles in OMB Circular A-122 Cost Principles for Non-Profit Organizations, or 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, wherein certain types of expenditures are not allowed or are limited to as to reimbursement. Negative amounts shown on the schedule, if any, represent adjustments or credits made in the normal course of business to amounts of expenditures in prior years. De Minimis Rate Used: N Rate Explanation: The Trenton Indian Service Area, Inc. did not elect to use the 10% de minimis indirect cost rate as allowed under Uniform Guidance and has a “NONPROFIT RATE AGREEMENT’ with the Federal Government. The accompanying Schedule of Expenditures of Federal Awards includes the Federal award activity of Trenton Indian Service Area, Inc., under programs of the federal government for the year ended September 30, 2022, 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 Trenton Indian Service Area, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Trenton Indian Service Area, Inc.