Audit 321358

Title: Note 4. Subrecipients Accounting Policies: Note 1. Basis of Presentation The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal award activity of Opportunity Center for the Homeless 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 Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic consolidated financial statements. Note 2. Summary of Significant 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: Y Rate Explanation: Opportunity Center for the Homeless has elected to use the de minimis rate of 10% of modified total direct cost as an indirect cost allocation factor, as allowed under 2C.F.R. §200.414. There were no subrecipients of Federal Awards received by Opportunity Center for the Homeless for the year ended December 31, 2023.