Audit 36013

Accounting Policies: 1. BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Local Area of Workforce Development Manati/Dorado under programs of the federal government for the year ended June 30, 2022. 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 Local Area of Workforce Development Manati/Dorado, it is not intended to and does not present the financial position or changes in net assets of the Local Area of Workforce Development Manati/Dorado.2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the schedule are reported on the modified 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.3. ASSISTANCE LISTING NUMBER (ALN)The ALN included in this Schedule are determined based on the program name, review of grant contract information and the Office of Management and Budgets Assistance Listing.4. ADMINISTRATIVE COSTSThe Local Area of Workforce Development Manati/Dorado does not have a federally negotiated indirect cost rate applicable to the programs. No election has been made for the 10 percent de minimis cost rate. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.