Audit 334569

Accounting Policies: NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES a.Basis of Presentation The accompanying schedule of expenditures of federal awards includes the federal grantactivity of Latino Network. The information in this schedule is presented in accordance with therequirements of Title 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles,and Audit Requirements for Federal Awards (Uniform Guidance), or other requirements ofFederal agencies such as the Department of Treasury. Therefore, some amounts presented inthis schedule may differ from amounts presented in or used in the preparation of the basicfinancial statements. b.Basis of Accounting The expenditures for each federal financial assistance programs are presented in the scheduleon the accrual basis of accounting.NOTE 2 – CONTINGENCIES The amounts expended by Latino Network under federal programs are subject to audit by governmental agencies. Latino Network believes that any liabilities arising from such audits will not have a material impact on Latino Network’s financial position. NOTE 3 – ASSISTANCE LISTING PROGRAMS The program titles and Assistance Listing (“AL”) numbers were obtained from the federal or pass-through grantor or the Sam.gov. De Minimis Rate Used: N Rate Explanation: Latino Network has not used the 10% de minimis, or any other, indirect cost rate under the Uniform Guidance.