Audit 360435

Title: NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting Policies: The accounting policies and presentation of the Schedule of Expenditures of Federal Awards and State Financial Assistance of the BOYS AND GIRLS CLUB. (the Organization) have been designed to conform to generally accepted accounting principles as applicable to non-profit organizations, including the reporting and compliance requirements of the Audits of States, Local Governments, and Non-Profit Organizations and Office of Management and Budget Uniform GuidanceA. Basis of Accounting Basis of accounting refers to when revenues and expenditures or expenses are recognized in the accounts and reported in the financial statements. Basis of accounting relates to the timing of the measurements made, regardless of the measurement focus. The modified accrual basis of accounting is followed in the Schedule of Expenditures of Federal Awards. Under the modified accrual basis, revenues are recognized when they become measurable and available. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the Organization considers revenues to be available if they are collected within 60 days after the end of the current fiscal period. Expenditures generally are recorded when a liability is incurred, as under accrual accounting. De Minimis Rate Used: N Rate Explanation: Did not use The accounting policies and presentation of the Schedule of Expenditures of Federal Awards and State Financial Assistance of the BOYS AND GIRLS CLUB OF AMERICA (the Organization) have been designed to conform to generally accepted accounting principles as applicable to non-profit organizations, including the reporting and compliance requirements of the Audits of States, Local Governments, and Non-Profit Organizations and Office of Management and Budget Uniform Guidance.

Title: NOTE 2. INDIRECT COST RATE Accounting Policies: The accounting policies and presentation of the Schedule of Expenditures of Federal Awards and State Financial Assistance of the BOYS AND GIRLS CLUB. (the Organization) have been designed to conform to generally accepted accounting principles as applicable to non-profit organizations, including the reporting and compliance requirements of the Audits of States, Local Governments, and Non-Profit Organizations and Office of Management and Budget Uniform GuidanceA. Basis of Accounting Basis of accounting refers to when revenues and expenditures or expenses are recognized in the accounts and reported in the financial statements. Basis of accounting relates to the timing of the measurements made, regardless of the measurement focus. The modified accrual basis of accounting is followed in the Schedule of Expenditures of Federal Awards. Under the modified accrual basis, revenues are recognized when they become measurable and available. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the Organization considers revenues to be available if they are collected within 60 days after the end of the current fiscal period. Expenditures generally are recorded when a liability is incurred, as under accrual accounting. De Minimis Rate Used: N Rate Explanation: Did not use BOYS AND GIRLS OF AMERICA, did not elect to use the 10 percent de minimis indirect cost rate

Title: NOTE 3. SUBRECIPIENT Accounting Policies: The accounting policies and presentation of the Schedule of Expenditures of Federal Awards and State Financial Assistance of the BOYS AND GIRLS CLUB. (the Organization) have been designed to conform to generally accepted accounting principles as applicable to non-profit organizations, including the reporting and compliance requirements of the Audits of States, Local Governments, and Non-Profit Organizations and Office of Management and Budget Uniform GuidanceA. Basis of Accounting Basis of accounting refers to when revenues and expenditures or expenses are recognized in the accounts and reported in the financial statements. Basis of accounting relates to the timing of the measurements made, regardless of the measurement focus. The modified accrual basis of accounting is followed in the Schedule of Expenditures of Federal Awards. Under the modified accrual basis, revenues are recognized when they become measurable and available. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the Organization considers revenues to be available if they are collected within 60 days after the end of the current fiscal period. Expenditures generally are recorded when a liability is incurred, as under accrual accounting. De Minimis Rate Used: N Rate Explanation: Did not use BOYS AND GIRLS CLUB OF AMERICA, had no subrecipients during the fiscal year.