Audit 33948

Title: Basis of Presentation Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting, which is described in Note 1 to the Organizations consolidated financial statements for the year ended June 30, 2022. Such expenditures are recognized following the cost principles contained in accordance with the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in this schedule may differ from amounts presented, or used in the preparation of, the basic consolidated financial statements. De Minimis Rate Used: N Rate Explanation: During the year ended June 30, 2022, the Organization did not elect to use the 10% de minimis cost rate as covered in ?200.414 of the Uniform Guidance. The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of Young Audiences Charter Association (the Organization) under programs of the federal government for the year ended June 30, 2022. 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 (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. The Organizations reporting entity is defined in Note 1 to the consolidated financial statements for the year ended June 30, 2022.

Title: Relationship to Consolidated Financial Statements Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting, which is described in Note 1 to the Organizations consolidated financial statements for the year ended June 30, 2022. Such expenditures are recognized following the cost principles contained in accordance with the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in this schedule may differ from amounts presented, or used in the preparation of, the basic consolidated financial statements. De Minimis Rate Used: N Rate Explanation: During the year ended June 30, 2022, the Organization did not elect to use the 10% de minimis cost rate as covered in ?200.414 of the Uniform Guidance. Federal revenues of $4,351,056 are included in the Statement of Activities.

Title: Amounts Passed through to Subrecipients Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting, which is described in Note 1 to the Organizations consolidated financial statements for the year ended June 30, 2022. Such expenditures are recognized following the cost principles contained in accordance with the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in this schedule may differ from amounts presented, or used in the preparation of, the basic consolidated financial statements. De Minimis Rate Used: N Rate Explanation: During the year ended June 30, 2022, the Organization did not elect to use the 10% de minimis cost rate as covered in ?200.414 of the Uniform Guidance. The Organization did not pass through any federal funding to subrecipients.