Audit 344196

Title: Basis of Presentation Accounting Policies: 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. The Organization has elected to use up to the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. During the year ended June 30, 2024, the Organization did not have any indirect cost. De Minimis Rate Used: Y Rate Explanation: The Organization has elected to use up to the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. During the year ended June 30, 2024, the Organization did not have any indirect cost. The accompanying schedule of expenditures of state and federal awards (the Schedule) includes the federal and state award activity of the Organization under programs of the federal government for the year ended June 30, 2024. The information in this Schedule is presented in accordance with the 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 operations of Corona-Norco Family Young Men's Christian Association (the Organization), it is not intended to and does not present the financial position, changes in net assets, or cash flows the Organization.