Audit 355819

Title: Basis of Presentation Accounting Policies: Expenditures reported on the Schedule are reported on the same basis of accounting as the financial statements except that equipment purchased is reported as an expenditure on the Schedule; however, it is capitalized for financial statement purposes. The expenditures on the Schedule are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: GTP has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Greater Topeka Partnership (GTP) 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 GTP, it is not intended to and does not present the financial position, changes in net assets, or cash flows of GTP.

Title: Summary of Significant Accounting Policies Accounting Policies: Expenditures reported on the Schedule are reported on the same basis of accounting as the financial statements except that equipment purchased is reported as an expenditure on the Schedule; however, it is capitalized for financial statement purposes. The expenditures on the Schedule are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: GTP has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. Expenditures reported on the Schedule are reported on the same basis of accounting as the financial statements except that equipment purchased is reported as an expenditure on the Schedule; however, it is capitalized for financial statement purposes. The expenditures on the Schedule are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.

Title: De Minimus Indirect Cost Rate Accounting Policies: Expenditures reported on the Schedule are reported on the same basis of accounting as the financial statements except that equipment purchased is reported as an expenditure on the Schedule; however, it is capitalized for financial statement purposes. The expenditures on the Schedule are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: GTP has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. GTP has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.

Title: Relationship to Financial Statements Accounting Policies: Expenditures reported on the Schedule are reported on the same basis of accounting as the financial statements except that equipment purchased is reported as an expenditure on the Schedule; however, it is capitalized for financial statement purposes. The expenditures on the Schedule are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: GTP has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. Federal awards received are reported in the financial statements as grant revenue and other revenue on the statement of activities.