Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) reflects the federal grant activity of La Isla Network, Inc. (LIN) for the year ended December 31, 2022. The information in this Schedule is presented 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 LIN, it is not intended to, and does not, present the financial position, changes in net assets, or cash flows of LIN.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
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.