Audit 321689

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 allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: TRIANGLE AREA NETWORK, INC. HAS ELECTED NOT TO USE THE 10% DE MINIMIS COST RATE AS ALLOWED IN THE UNIFORM GUIDANCE. The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Triangle Area Network, Inc. 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). Because the Schedule presents only a selected portion of operations of Triangle Area Network, Inc. it is not intended to and does not present the financial position, changes in net assets, or cash flows of Triangle Area Network, Inc.

Title: SUBRECIPIENTS 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: TRIANGLE AREA NETWORK, INC. HAS ELECTED NOT TO USE THE 10% DE MINIMIS COST RATE AS ALLOWED IN THE UNIFORM GUIDANCE. Triangle Area Network, Inc has no subrecipients.