Audit 362710

Title: Reconciliation of Schedule to Consolidated Statement of Activities Accounting Policies: The accompanying schedule of expenditures of federal awards (Schedule) includes the federal grant activity of Texas Muslim Women’s Foundation, Inc. (Organization). The information in this Schedule is presented in accordance with the audit 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 only presents a selected portion of the operations of the Organization, it is not intended and does not present the financial position, changes in net assets, or cash flows of the Organization. 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: Y Rate Explanation: The Organization has elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. The Organization received grants totaling $137,769 that were included in government grant revenue on the consolidated statement of activities that were not subject to the audit requirements of the Uniform Guidance and therefore were not included on the Schedule.