Audit 324157

Accounting Policies: The Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Good Samaritan Ministries and Thrift Store (GSMTS) for the year ended June 30, 2023. The 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 GSMTS, it is not intended to and does not present the financial position, changes in net assets, or cash flows of GSMTS. Expenditures are reported on the accrual basis of accounting which is the same method used to prepare the financial statements. 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. All  federal  awards  received  by  GSMTS  are  considered  conditional  grants  and  therefore  revenue  is recognized when qualifying expenses have been incurred. De Minimis Rate Used: Y Rate Explanation: GSMT has elected to use the 10% de minimis cost rate.