Audit 364446

Title: BASIS OF PRESENTATION Accounting Policies: The accompanying schedules of expenditures of federal awards include the federal grant activity of True North of Columbia, Inc. and are presented on the accrual basis of accounting. The information in these schedules are presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Audits. Therefore, some amounts presented in these schedules may differ from amounts presented in, or used in the preparation of, the financial statements. De Minimis Rate Used: Both Rate Explanation: True North of Columbia, Inc. does not have an established approved indirect cost rate. True North either does not claim indirect costs or uses the de minimis rate established by the awarding agency. The accompanying schedules of expenditures of federal awards include the federal grant activity of True North of Columbia, Inc. and are presented on the accrual basis of accounting. The information in these schedules are presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Audits. Therefore, some amounts presented in these schedules may differ from amounts presented in, or used in the preparation of, the financial statements.

Title: SUBRECIPIENTS Accounting Policies: The accompanying schedules of expenditures of federal awards include the federal grant activity of True North of Columbia, Inc. and are presented on the accrual basis of accounting. The information in these schedules are presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Audits. Therefore, some amounts presented in these schedules may differ from amounts presented in, or used in the preparation of, the financial statements. De Minimis Rate Used: Both Rate Explanation: True North of Columbia, Inc. does not have an established approved indirect cost rate. True North either does not claim indirect costs or uses the de minimis rate established by the awarding agency. True North of Columbia, Inc. did not provide funds to subrecipients in the current year.

Title: FEDERAL INDIRECT COST RATE Accounting Policies: The accompanying schedules of expenditures of federal awards include the federal grant activity of True North of Columbia, Inc. and are presented on the accrual basis of accounting. The information in these schedules are presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Audits. Therefore, some amounts presented in these schedules may differ from amounts presented in, or used in the preparation of, the financial statements. De Minimis Rate Used: Both Rate Explanation: True North of Columbia, Inc. does not have an established approved indirect cost rate. True North either does not claim indirect costs or uses the de minimis rate established by the awarding agency. True North of Columbia, Inc. does not have an established approved indirect cost rate. True North either does not claim indirect costs or uses the de minimis rate established by the awarding agency.