Audit 343705

Title: PROGRAM DESCRIPTION Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting in accordance with generally accepted accounting principles. 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 Organization has elected not to use the 10% de minimums indirect cost rate allowed under Uniform Guidance The Education Stabilization Fund, subprogram American Rescue Plan – Elementary and Secondary Emergency Relief Fund (“the Program”) was a program that was established through the American Rescue Plan (ARP) Act in response to the American economy and COVID-19 pandemic. The Program supports state educational agencies and local educational agencies to help schools return safely to in-person instruction, maximize in-person instructional time, sustain the safe operation of schools, and address the academic, social, emotional, and mental health impacts of the COVID-19 pandemic on the nation’s students.

Title: BASIS OF PRESENTATION Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting in accordance with generally accepted accounting principles. 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 Organization has elected not to use the 10% de minimums indirect cost rate allowed under Uniform Guidance The schedule of expenditures of federal awards includes federal grant activity of Greater Cincinnati Television Educational Foundation (“the Organization”) and is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.

Title: Subsequent Events Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting in accordance with generally accepted accounting principles. 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 Organization has elected not to use the 10% de minimums indirect cost rate allowed under Uniform Guidance In preparing the schedule of expenditures of federal awards, the Organization has evaluated events subsequent to the date of the report through December 19, 2024, which is the date of the schedule of expenditures of federal awards were available to be issued.