Audit 332483

Title: LOW-RISK AUDITEE STATUS Accounting Policies: BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of United Way of the National Capital Area (United Way NCA) under programs of the federal government for the year ended June 30, 2024. The information in this Schedule is presented in accordance with the requirements of 2 CFR 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 United Way NCA, it is not intended to and does not present the financial position, changes in net assets, or cash flows of United Way NCA. 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. 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. De Minimis Rate Used: N Rate Explanation: United Way NCA has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. United Way NCA has not been designated as a low-risk auditee for the year ended June 30, 2024 as the Uniform Guidance has not been performed in two consecutive years.