Audit 364671

Accounting Policies: 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Denver Basic Income Project (the Organization), under programs of the federal government for the year ended December 31, 2024 in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administration Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Uniform Guidance). Because the Schedule 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 assets, or cash flows of the Organization. Basis of Accounting 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 allowed are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: Indirect Cost Rate The Organization has elected to not use the 10 or 15-percent de minimis indirect cost rate allowed under the Uniform Guidance.