Audit 335490

Title: BASIS OF PRESENTATION 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. De Minimis Rate Used: N Rate Explanation: A federally negotiated indirect cost rate has not been deemed sufficient documentation to support the administrative financial charges to the grant. As such, the Organization may use the de minimis rate is available without the need to negotiate with the cognizant federal agency for indirect costs. However, the Organization has elected not to use the de minimis rate. The grantee will provide source documentation of all administrative costs (direct and indirect). The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Village for Vets (the Organization) under programs of the federal government for the year ended December 31, 2023. 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 Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.