Audit 360729

Title: 1. GENERAL Accounting Policies: 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. De Minimis Rate Used: N Rate Explanation: Living Opportunities of DePaul, Inc. has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards (the Schedule) includes the award activity of Living Opportunities of DePaul, Inc. under programs of the federal government for the year ended December 31, 2024, and has been prepared in accordance with accounting principles generally accepted in the United States. The information in the 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 Living Opportunities of DePaul, Inc., it is not intended to and does not present the financial position, changes in net assets or cash flows of Living Opportunities of DePaul, Inc. Amounts included in the Schedule are actual expenditures for the year ended December 31, 2024. Differences between amounts included in the Schedule and amounts reported to funding agencies for these programs result from report timing.

Title: 2. BASIS OF ACCOUNTING Accounting Policies: 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. De Minimis Rate Used: N Rate Explanation: Living Opportunities of DePaul, Inc. has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. 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.

Title: 3. INDIRECT COSTS Accounting Policies: 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. De Minimis Rate Used: N Rate Explanation: Living Opportunities of DePaul, Inc. has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. Living Opportunities of DePaul, Inc. has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.