Audit 339385

Title: Basis of Presentation Accounting Policies: The SEFA is presented using the accrual basis of accounting which is described in the notes to the Organization’s financial statements. 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: Y Rate Explanation: The SEFA includes both direct and indirect costs for all grants. The Organization elected to use the 10% de minimis indirect cost rate as allowed per section 414 of the Uniform Guidance. The accompanying Schedule of Expenditures of Federal Awards (“SEFA”) includes the federal grant activity of the Arts and Services for Disabled, Inc. dba Able Arts Work (the “Organization”) under programs of the federal government for the year ended June 30, 2024. The information in this SEFA is presented in accordance with the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States of America, and the audit requirements of Title 2 U.S. Code of Federal Regulation (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). Because the SEFA presents only a selected portion of 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. Federal awards received directly from federal agencies as well as federal awards passed through local agencies are included in the SEFA.

Title: Summary of Significant Accounting Policies Accounting Policies: The SEFA is presented using the accrual basis of accounting which is described in the notes to the Organization’s financial statements. 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: Y Rate Explanation: The SEFA includes both direct and indirect costs for all grants. The Organization elected to use the 10% de minimis indirect cost rate as allowed per section 414 of the Uniform Guidance. The SEFA is presented using the accrual basis of accounting which is described in the notes to the Organization’s financial statements. 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.

Title: Relationship to Federal, State, County and City Awards Reports Accounting Policies: The SEFA is presented using the accrual basis of accounting which is described in the notes to the Organization’s financial statements. 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: Y Rate Explanation: The SEFA includes both direct and indirect costs for all grants. The Organization elected to use the 10% de minimis indirect cost rate as allowed per section 414 of the Uniform Guidance. Amounts reported in the SEFA agree with the amounts reported in the related federal, state, county, and city financial reports for all major federal, state, county, and city programs.

Title: Indirect Cost Rate Accounting Policies: The SEFA is presented using the accrual basis of accounting which is described in the notes to the Organization’s financial statements. 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: Y Rate Explanation: The SEFA includes both direct and indirect costs for all grants. The Organization elected to use the 10% de minimis indirect cost rate as allowed per section 414 of the Uniform Guidance. The SEFA includes both direct and indirect costs for all grants. The Organization elected to use the 10% de minimis indirect cost rate as allowed per section 414 of the Uniform Guidance.

Title: Subrecipients Accounting Policies: The SEFA is presented using the accrual basis of accounting which is described in the notes to the Organization’s financial statements. 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: Y Rate Explanation: The SEFA includes both direct and indirect costs for all grants. The Organization elected to use the 10% de minimis indirect cost rate as allowed per section 414 of the Uniform Guidance. The Organization did not provide federal awards to subrecipients.