Audit 361744

Title: A. Basis of Presentation Accounting Policies: B. Summary of Significant Accounting Policies In accordance with generally accepted accounting principles, the Center accounts for all awards under federal programs on an accrual basis of accounting and, accordingly, reflects all significant receivables, payables, and other liabilities. Federal grant funds are considered to be earned to the extent of expenditures made under the provisions of the grant. When such funds are advanced to the Center, they are recorded as deferred revenues until earned. Otherwise, federal grant funds are received on a reimbursement basis from the respective federal program agencies. Generally, unused balances are returned to the grantor at the close of specified project periods. 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. Pass-through entity identifying numbers are presented where available. The Center has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: Y Rate Explanation: See note above, last paragraph, last sentence. The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal grant activity of the Fort Bend County Women’s Center, Incorporated (the “Center”) under programs of the federal government for the year ended December 31, 2024. The information in this schedule is presented in accordance with the requirements of the Title 2 U.S CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Because the Schedule presents only a selected portion of the operations of the Center, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Center.