Audit 342400

Title: BASIS OF PRESENTATION Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards 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: The Center has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards includes federal award activity of Northern Nevada International Center (Center) under programs of the federal government for the year ended June 30, 2024. The information on the 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 and Title 45 U.S. Code of Federal Regulations Part 75, Uniform Administrative Requirements, Costs Principles, and Audit Requirements for HHS Awards (Uniform Guidance). Because this schedule only presents a select portion of the operations of the Center, it is not intended to and does not present the financial position, changes in net assets, functional expenses, or cash flows of the Center.