Audit 358742

Title: ACCOUNTING POLICIES Accounting Policies: THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS (SEFA) INCLUDES THE FEDERAL GRANT ACTIVITY OF NATIVE VILLAGE OF GAKONA (NVG) UNDER PROGRAMS OF THE FEDERAL GOVERNMENT FOR THE YEAR ENDED SEPTEMBER 30, 2024. THE INFORMATION IN THE SCHEDULE IS PRESENTED IN ACCORDANCE WITH THE REQUIREMENTS OF THE UNIFORM GUIDANCE. BECAUSE THE SCHEDULE PRESENTS ON A SELECTED PORTION OF THE OPERATIONS OF NVG, IT IS NOT INTENDED TO AND DOES NOT PRESENT THE FINANCIAL POSITION, CHANGES IN NET ASSETS, OR CASH FLOWS OF NVG. EXPENDITURES REPORTED ON THIS 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 ALLOWABLEOR ARE LIMITED AS TO REIMBURSEMENT. PASS THROUGH ENTITY IDENTIFYING NUMBERS ARE PRESENTED WHERE AVAILABLE. NO AMOUNTS WERE PASSED THROUGH TO SUBRECIPIENTS. De Minimis Rate Used: N Rate Explanation: NVG HAS ELECTED TO NOT USE THE DE MINIMUS 10% INDIRECT COST RATE. THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS (SEFA) INCLUDES THE FEDERAL GRANT ACTIVITY OF NATIVE VILLAGE OF GAKONA (NVG) UNDER PROGRAMS OF THE FEDERAL GOVERNMENT FOR THE YEAR ENDED SEPTEMBER 30, 2024. THE INFORMATION IN THE SCHEDULE IS PRESENTED IN ACCORDANCE WITH THE REQUIREMENTS OF THE UNIFORM GUIDANCE. BECAUSE THE SCHEDULE PRESENTS ON A SELECTED PORTION OF THE OPERATIONS OF NVG, IT IS NOT INTENDED TO AND DOES NOT PRESENT THE FINANCIAL POSITION, CHANGES IN NET ASSETS, OR CASH FLOWS OF NVG. EXPENDITURES REPORTED ON THIS 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 ALLOWABLEOR ARE LIMITED AS TO REIMBURSEMENT. PASS THROUGH ENTITY IDENTIFYING NUMBERS ARE PRESENTED WHERE AVAILABLE. NO AMOUNTS WERE PASSED THROUGH TO SUBRECIPIENTS.