Audit 360222

Title: NOTE 1: BASIS OF PRESENTATION Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of North Central-Flint Hills Area Agency on Aging, Inc. and presents expenditures on the accrual basis of accounting, except for subsidy programs, which follows REAC PHA - Financial Accounting Brief - Accounting Issues #10, which defines a Federal Expenditure expended for single audit purposes as when dollars are received. The information in this schedule is presented in accordance with OMB Inform Guidance. De Minimis Rate Used: N Rate Explanation: NONE The accompanying schedule of expenditures of federal awards includes the federal grant activity of North Central-Flint Hills Area Agency on Aging, Inc. and presents expenditures on the accrual basis of accounting, except for subsidy programs, which follows REAC PHA - Financial Accounting Brief - Accounting Issues #10, which defines a Federal Expenditure expended for single audit purposes as when dollars are received. The information in this schedule is presented in accordance with OMB Inform Guidance.

Title: NOTE 2: INDIRECT COST RATE Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of North Central-Flint Hills Area Agency on Aging, Inc. and presents expenditures on the accrual basis of accounting, except for subsidy programs, which follows REAC PHA - Financial Accounting Brief - Accounting Issues #10, which defines a Federal Expenditure expended for single audit purposes as when dollars are received. The information in this schedule is presented in accordance with OMB Inform Guidance. De Minimis Rate Used: N Rate Explanation: NONE North Central-Flint Hills Area Agency on Aging, Inc did not elect to use the de minimis cost rate.