Audit 363817

Title: RECONCILIATION OF SEFA AND FINANCIAL STATEMENTS Accounting Policies: NOTE 1 BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards includes the federal grant activity of Bethany Home Association of Lindsborg, Kansas (the Organization) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the applicable 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 of expenditures of federal awards presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Organization. NOTE 2 SIGNIFICANT ACCOUNTING POLICIES No funds were identified as having been provided to subrecipients by the Organization and accordingly, no funds identified in the schedule of expenditures of federal awards are attributable to subrecipient entities. There were no federal awards expended for noncash assistance or insurance. The Organization has elected to use the 10% de minimis indirect cost rate allowable under the Uniform Guidance. De Minimis Rate Used: Y Rate Explanation: The auditee used the de minimis cost rate. The Organization has elected to use the 10% de minimis indirect cost rate allowable under the Uniform Guidance. The U.S. Department of Agriculture loan has a balance of $7,673,164 at December 31, 2024 as noted on the financial statements.