Audit 350621

Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of Elmcor Youth & Adult Activities, Inc. and Affiliate (the “Organization”) for the year ended June 30, 2024. Federal awards received directly from federal agencies, as well as federal awards passed through other entities, are included on the Schedule. The information in the Schedule 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 (the “Uniform Guidance”). Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, and cash flows of the Organization. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the OMB’s Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement. During the year ended June 30, 2024, the Organization received food awards from various state, city, and local agencies that amounted to $2,510. The value of the awards is included in the schedule of expenditures of federal awards. The Organization’s overhead rate is calculated based on the funders’ requirements, and therefore, the Organization elected not to use the 10 percent de minimis rate required under the Uniform Guidance. For the year ended June 30, 2024, the Organization provided no funds to subrecipients. De Minimis Rate Used: N Rate Explanation: The Organization’s overhead rate is calculated based on the funders’ requirements, and therefore, the Organization elected not to use the 10 percent de minimis rate required under the Uniform Guidance.