Audit 354142

Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Regional Cultural and Performing Arts Development Commission (the "Commission") under programs of the federal government for the year ended December 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 (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Commission, it is not intended to and does not present the net position, changes in net positions, or cash flows of the Commission. SUMMARY OF SIGNIFICANT 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 the Uniform Guidance, wherein certain types of expenditures are not allowable or limited as to reimbursement. Pass_x0002_through entity identifying numbers are presented where available and applicable. De Minimis Rate Used: N Rate Explanation: Regional Cultural and Performing Arts Development Commission has elected to not use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. The Commission has a contractual indirect cost rate with the City of St. Louis that may from time to time exceed the 10-percent de minimis indirect cost rate.