Audit 332718

Title: Basis of Presentation Accounting Policies: (1) Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. (2) Pass-through entity identifying numbers are presented where available. De Minimis Rate Used: Y Rate Explanation: The Organization has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal and state awards (the Schedule) includes the federal and state grant activity of First Children's Finance under programs of the federal and state government for the year ended June 30, 2024. 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 (the Uniform Guidance) and the Wisconsin State Single Audit Guidelines. Because the Schedule presents only a selected portion of the operations of First Children's Finance, it is not intended to and does not present the financial position, changes in net assets, or cash flows of First Children's Finance.