Audit 36024

Accounting Policies: Note 1- GeneralThe Schedule of Expenditures of Federal and State Awards presents the activity of all applicable federal and state award programs of the Brazos Valley Council on Alcohol and Substance Abuse (the Organization). The Organizations reporting entity is defined in Note 1 of the financial statements. 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) and the State of Texas Uniform Grant Management Standards (Texas Standards).Note 2- Basis of AccountingThe Schedule of Expenditures of Federal and State Awards is presented using the accrual basis of accounting. The accrual basis of accounting is described in Note 2 of the financial statements.Note 3- ContingenciesAllowable expenditures of federal and state awards are subject to audit and adjustment by grantor agencies. Any disallowed claims, including amounts already collected, may constitute a liability of the Organization. As of August 31, 2022, the Organization had no significant liabilities to state or federal agencies. Note 4 Indirect Cost RateThe Organization did not elect to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.