Audit 355369

Title: Note to Schedule of Expenditures of Federal Awards Accounting Policies: The accompanying Schedule of Federal Awards includes the Federal grant activity of Fairway Ridge, A Silvercrest Cooperative and is presented on the accrual basis of accounting. De Minimis Rate Used: N Rate Explanation: Fairway Ridge, A Silvercrest Cooperative has not charged indirect costs to any of the federal programs. Therefore, the election on the 10 percent de minimis indirect cost rate is not applicable as allowed under Uniform Guidance. The accompanying Schedule of Federal Awards includes the Federal grant activity of Fairway Ridge, A Silvercrest Cooperative and is presented on the accrual basis of accounting. Fairway Ridge, A Silvercrest Cooperative has not charged indirect costs to any of the federal programs. Therefore, the election on the 10 percent de minimis indirect cost rate is not applicable as allowed under Uniform Guidance.