Audit 350886

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 2 CFR 200 Uniform Administrative Requirements Guidance Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: The Council has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance and therefore was not used to compute indirect costs allocable to the Federal programs. The accounting policies of Connecticut Humanities Council, Incorporated’s (the Council) conform to accounting principles generally accepted in the United States of America as applicable to not-for-profit entities. The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Council under programs of the federal government for the year ended June 30, 2024. All expenditures incurred under federally sponsored agreements are recognized and recorded on an accrual basis, except for subrecipient award costs, which are recognized and recorded on a cash basis. 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 (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Council, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Council.

Title: 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 2 CFR 200 Uniform Administrative Requirements Guidance Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: The Council has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance and therefore was not used to compute indirect costs allocable to the Federal programs. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in 2 CFR 200 Uniform Administrative Requirements Guidance Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Council has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance and therefore was not used to compute indirect costs allocable to the Federal programs.