Audit 352918

Title: NOTE 1. BASIS OF PRESENTATION Accounting Policies: The schedule of expenditures of federal awards includes the federal grant activity of P.A.R.E.N.T.S., Inc. and is presented, where applicable, on the accrual basis of accounting. 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). Therefore, some of the amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. De Minimis Rate Used: N Rate Explanation: P.A.R.E.N.T.S., Inc. has not entered into an approved indirect cost negotiation agreement covering the year ended June 30, 2024. P.A.R.E.N.T.S., Inc. has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance during year ended June 30, 2024. The schedule of expenditures of federal awards includes the federal grant activity of P.A.R.E.N.T.S., Inc. and is presented, where applicable, on the accrual basis of accounting. 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). Therefore, some of the amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements.