Audit 346295

Title: Basis of presentation Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Operation Breakthrough, Inc. has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance and is using a fixed rate indirect allocation. De Minimis Rate Used: N Rate Explanation: Operation Breakthrough, Inc. has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance and is using a fixed rate indirect allocation. The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Operation Breakthrough, Inc. under programs of the federal government for the year ended October 31, 2024. The information in this 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 (the “Uniform Guidance”). Because the Schedule presents only a selected portion of the operations of Operation Breakthrough, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Operation Breakthrough, Inc.