Audit 350509

Accounting Policies: Basis of Presentation The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Board of Child Care of the United Methodist Church, Inc. (Everstand) for the year ended June 30, 2024. The information in this Schedule is presented in accordance with the requirements of the 2 CFR 200 Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a portion of the operation of Everstand, it is not intended to and does not present the financial position, changes in net assets, and cash flows of Everstand. Basis of Accounting 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Everstand did not elect to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. RELATION TO FINANCIAL STATEMENTS AND FEDERAL FINANCIAL REPORTS Amounts reported in the accompanying Schedule of Expenditures of Federal Awards agree with amounts reported in Everstand’s basic financial statements and the related federal financial reports submitted by Everstand. De Minimis Rate Used: N Rate Explanation: Everstand did not elect to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.