Audit 320286

Accounting Policies: Note 1 – Basis of Presentation and Summary of Significant Accounting Policies The accompanying schedule of expenditures of federal and non-federal awards (the Schedule) includes the grant activity of the Samish Indian Nation (the Nation) under programs of the government for the year ended December 31, 2023. The information in the Schedule is presented in accordance with the requirements of Title 2 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 operations of the Nation, it is not intended to, and does not, present the financial position, changes in net position, or cash flows of the Nation. Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, or other applicable guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available. The Nation did not provide any funds to any sub-recipients during the year ended December 31, 2023. De Minimis Rate Used: N Rate Explanation: Note 2 – Indirect Costs The Nation has elected not to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.