Audit 33590

Accounting Policies: NOTE 1: BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards and state financial assistance includesthe federal and state grant activity of Children's Forum, Inc. (the Forum). The information in theschedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations(CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements forFederal Awards, Audits of States, Local Governments, and Non-Profit Organizations, and Chapter10.650, Rules of the Auditor General. Therefore, some amounts presented in this schedule may differfrom amounts presented in, or used in the presentation of, the basic financial statements.Federal programs with difference assistance listing numbers (ALN) that are closely related becausethey share common compliance requirements are defined as a cluster by the Uniform Guidance.Child Care and Development Block Grant (ALN 93.575) is reported as a cluster in the schedule.NOTE 2: BASIS OF ACCOUNTINGThe schedule was prepared on the accrual basis of accounting.NOTE 3: CONTINGENCIESGrant monies received and disbursed by the Forum are subject to review by the grantor agencies.Such audits may result in requests for reimbursement due to disallowed expenditures. Based uponprior experience, the Forum does not believe that such disallowance, if any, would have a materialeffect on the financial position of the Forum. As of June 30, 2022, there were no material questionedor disallowed costs as a result of grant audits in process or completed.NOTE 4: NONCASH ASSISTANCEThe Forum did not receive any federal or state noncash assistance for the fiscal year ended June 30,2022.NOTE 5: INDIRECT COST RATEThe Forum has elected not to use the 10% de minimis indirect cost rate allowed under the UniformGuidance.NOTE 6: FEDERALLY FUNDED INSURANCEThe Forum did not receive federally funded insurance during the fiscal year ended June 30, 2022.NOTE 7: FEDERALLY FUNDED LOANSThe Forum has no federally funded loans as of June 30, 2022. No funds were expended in the formof loan or loan guarantees during the fiscal year ended June 30, 2022. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.