Audit 342942

Title: Basis of Presentation Accounting Policies: Expenditures reported on the SEFA are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance. The cost principles indicate that certain types of expenditures are not allowable and certain allowable costs are limited as to reimbursement. The Foundation Christian Center has elected not to the use 10 percent de minimis indirect cost rate as allowed under Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The Foundation Christian Center has elected not to the use 10 percent de minimis indirect cost rate as allowed under Uniform Guidance. The accompanying schedule of expenditures of federal awards (SEFA) includes the federal award activity for The Foundation Christian Center under programs of the federal government for the year ended December 31, 2023 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 SEFA only presents a selected portion of the operations of The Foundation Christian Center, it is not intended to and does not present the financial position, changes in net assets, or cash flows of The Foundation Christian Center.