Audit 39406

Title: Basis of Presentation Accounting Policies: 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 allowable or are limited as to reimbursement. De Minimis Rate Used: Both Rate Explanation: The Organization uses the 10% de minimis indirect cost rate for several of its grants that allow it and has elected not to use the 10% de minimis indirect cost rate for all other grants under Uniform Guidance. The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the federal award activity of Suncom Industries, Inc. (the Organization) under programs of the federal government for the year ended June 30, 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 Schedulepresents only a select portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net position or cash flows of the Organization.