Audit 364654

Accounting Policies: The Schedule of Expenditures of Federal Awards has been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America and is 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 The Center for Progress and Excellence, Inc. is not intended to and does not present the financial position, changes in net assets, or cash flows of The Center for Progress and Excellence, Inc. Expenditures reported on the Schedule of Expenditures of Federal Awards include cash disbursements, whether capitalized or expensed, during the fiscal year, as well as grant related amounts recorded as payable at year end. Revenues reported on the Schedule of Expenditures of Federal Awards include cash receipts, whether recognized or deferred, as well as grant receivables recorded at year end. De Minimis Rate Used: N Rate Explanation: The Center for Progress and Excellence, Inc. did not routinely allocate costs to Federal Awards programs. Costs charged to such programs were direct costs unless specifically incurred for the program and allowed and indicated as such. The Center for Progress and Excellence, Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.