Audit 340577

Title: Basis of Accounting Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Polish American Association under programs of the federal government for the year ended June 30, 2024. The information in this schedule is presented in accordance with requirements of the 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 Polish American Association, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Polish American Association. De Minimis Rate Used: Y Rate Explanation: Polish American Association has elected to use the 10-percent de minimus cost rate allowed under the Uniform Guidance. 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. Pass-through entity identifying numbers are presented where available.

Title: Sub-Recipients Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Polish American Association under programs of the federal government for the year ended June 30, 2024. The information in this schedule is presented in accordance with requirements of the 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 Polish American Association, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Polish American Association. De Minimis Rate Used: Y Rate Explanation: Polish American Association has elected to use the 10-percent de minimus cost rate allowed under the Uniform Guidance. Polish American Association does not have any sub-recipients of federal awards.