Audit 331144

Title: RECONCILIATION OF SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS TO FINANCIAL STATEMENTS Accounting Policies: NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Cary Institute of Ecosystem Studies, Inc., under programs of the federal government for the year ended June 30, 2024. The information in 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 the Cary Institute of Ecosystem Studies, Inc., it is not intended to, and does not, present the financial position, changes in net assets, functional expense, or cash flows of the Cary Institute of Ecosystem Studies, Inc. Basis of Accounting Expenditures reported on the Schedule are reported on the accrual basis of accounting. For cost-reimbursement awards, 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. For performance-based awards, expenditures reported represent amounts earned. De Minimis Rate Used: N Rate Explanation: Cary Institute of Ecosystem Studies, Inc. did not recover the 10% de minimis indirect cost rate allowed under Section 200.414 of the Uniform Guidance. The following is a reconciliation of the total federal grants and contracts as reported in theCary Institute of Ecosystem Studies, Inc.’s financial statements to the federal expenditures reported in the schedule of expenditures of federal awards: Government Grants and Contracts Reported in the Financial Statements $ 4,742,438 Nonfederal Government Grants and Contracts (307,920) Expenditures in the Schedule of Expenditures of Federal Awards $4,434,518