Audit 318684

Title: Note 1 - 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 allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: The League has elected to not use the 10% de minimis indirect cost rate. The League applies indirect costs in accordance with the specific terms of its award agreements. The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Save the Redwoods League (the League) under programs of the federal government for the year ended March 31, 2024. 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 the League, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the League. The League entered into a stewardship agreement with the United States Department of Agriculture (USDA), Forest Service, Sequoia National Forest, assistance listing number 10.701, agreement number 22-SA-11051300-010. For the year ended March 31, 2024, the League incurred federal expenditures under this agreement of $3,304,607. This program is specifically excluded from coverage under Uniform Guidance by the USDA, and therefore, is not included in the schedule of expenditures of federal awards above.