Audit 345000

Title: Note - 1 Nature of Operations 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, where in certain types of expenditures are not allowable or are limited as to reimbursement De Minimis Rate Used: N Rate Explanation: Auditee has a negotiated Indirec Cost Agreement with it's cognizant agency, the US Dept of Health and Human Services The accompanying Schedule of Federal Awards (the "Schedule") includes the federal activity of Wayne Action Group for Economic Solvency, Inc. under programs of the federal government for the year ended June 30, 2024. The information in 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 (Uniform Guidance). Because the Schedule presents only a selected portion of operations of the Organization, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Organization.

Title: Note - 2 Summary of Significant Accounting Policies 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, where in certain types of expenditures are not allowable or are limited as to reimbursement De Minimis Rate Used: N Rate Explanation: Auditee has a negotiated Indirec Cost Agreement with it's cognizant agency, the US Dept of Health and Human Services 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.

Title: Note - 3 Indirect Cost Rate 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, where in certain types of expenditures are not allowable or are limited as to reimbursement De Minimis Rate Used: N Rate Explanation: Auditee has a negotiated Indirec Cost Agreement with it's cognizant agency, the US Dept of Health and Human Services Wayne Action Group for Economic Solvency, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.

Title: Note - 4 Passed Through Awards 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, where in certain types of expenditures are not allowable or are limited as to reimbursement De Minimis Rate Used: N Rate Explanation: Auditee has a negotiated Indirec Cost Agreement with it's cognizant agency, the US Dept of Health and Human Services Wayne Action Group for Economic Solvency, Inc. has not contracted or made awards to any subrecipients.