Audit 365824

Title: Basis of Presentation. Accounting Policies: Basis of Presentation. The accompanying Schedule of Federal Awards includes the federal grant activity of Lincoln Literacy Council and is presented on the accrual basis of accounting. Grant awards are considered expended when the expense transactions associated with the grant occur. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of, the basic financial statements. De Minimis Rate Used: Y Rate Explanation: Indirect Costs. The Organization did elect to use the ten percent de minimis indirect cost rate as allowed in the Uniform Guidance, 2 CFR 200.414. The accompanying Schedule of Federal Awards includes the federal grant activity of Lincoln Literacy Council and is presented on the accrual basis of accounting. Grant awards are considered expended when the expense transactions associated with the grant occur. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of, the basic financial statements.

Title: Subrecipients. Accounting Policies: Basis of Presentation. The accompanying Schedule of Federal Awards includes the federal grant activity of Lincoln Literacy Council and is presented on the accrual basis of accounting. Grant awards are considered expended when the expense transactions associated with the grant occur. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of, the basic financial statements. De Minimis Rate Used: Y Rate Explanation: Indirect Costs. The Organization did elect to use the ten percent de minimis indirect cost rate as allowed in the Uniform Guidance, 2 CFR 200.414. he Organization had no subrecipients.

Title: Indirect Costs. Accounting Policies: Basis of Presentation. The accompanying Schedule of Federal Awards includes the federal grant activity of Lincoln Literacy Council and is presented on the accrual basis of accounting. Grant awards are considered expended when the expense transactions associated with the grant occur. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of, the basic financial statements. De Minimis Rate Used: Y Rate Explanation: Indirect Costs. The Organization did elect to use the ten percent de minimis indirect cost rate as allowed in the Uniform Guidance, 2 CFR 200.414. The Organization did elect to use the ten percent de minimis indirect cost rate as allowed in the Uniform Guidance, 2 CFR 200.414.