Audit 359281

Title: Basis of Accounting Accounting Policies: Note 1 - Basis of Accounting The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Youth Futures 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 Youth Futures, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Youth Futures. Note 2 - Summary of Significant Accounting Policies (1) 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 are limited as to reimbursement. (2) Youth Futures has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. (3) Pass-through entity identifying numbers are presented where available. De Minimis Rate Used: Y Rate Explanation: Youth Futures has elected to use the de minimis indirect cost rate allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Youth Futures 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 Youth Futures, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Youth Futures.

Title: Summary of Significant Accounting Policies Accounting Policies: Note 1 - Basis of Accounting The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Youth Futures 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 Youth Futures, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Youth Futures. Note 2 - Summary of Significant Accounting Policies (1) 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 are limited as to reimbursement. (2) Youth Futures has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. (3) Pass-through entity identifying numbers are presented where available. De Minimis Rate Used: Y Rate Explanation: Youth Futures has elected to use the de minimis indirect cost rate allowed under the Uniform Guidance. (1) 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 are limited as to reimbursement. (2) Youth Futures has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. (3) Pass-through entity identifying numbers are presented where available.