Audit 319397

Title: Note 1 – Basis of Presentation Accounting Policies: Expenditures reported in the Schedule are reported on the accrual basis of accounting and include capitalized expenditures. Such expenditures are recognized following the cost principles contained in the Uniform Guidance for all awards except for CFDA 21.019, which follows criteria determined by the Department of Treasury for allowability of costs. Under these principles, certain types of expenditures are not allowable or are limited as to reimbursement De Minimis Rate Used: N Rate Explanation: Not required The schedule of expenditures of federal awards (Schedule) presents the activities of all federal award programs of the Company. The Company’s reporting entity is defined in Note 1 of Iglesia de Dios Pentecostal, M.I. ’s basic financial statements. Federal awards received directly from federal agencies, as well as federal awards passed through from other governmental agencies, are included in the Schedule. 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 Company, it is not intended to, and does not, present the financial position, changes in net position, or cash flows of the Company.