Audit 39895

Title: NOTE C- COMMITMENTS AND CONTINGENCIES Accounting Policies: NOTE A BASIS OF PRESENTATIONThe accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of The Community Partnership under programs of the federal government and is presented on the accrual basis of accounting for the year ended September 30, 2021. The amounts reported as federal expenditures were obtained from the Organizations records. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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 Organization, it is not intended to and does not present the financial position, changes in net assets or cash flows of The Community Partnership. As a result, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of the basic financial statements.For purposes of the Schedule, federal awards include all grants, contracts, and similar agreements entered into directly between the Organization and agencies and departments of the federal government.All of the Organizations federal awards were in the form of cash assistance for the year ended September 30, 2022.The Company had no federally funded insurance programs or loan guarantees during the year ended September 30, 2022. NOTE B SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditure reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in OMB Circular A-122, Cost principles for Non-profit Organizations Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards., wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credit made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available.The Community Partnership for the Prevention of Homelessness elected to use the 10% de minimis cost rate. De Minimis Rate Used: Y Rate Explanation: The auditee used the de minimis cost rate. The Company receives a portion of its revenue from U.S. Government funded contracts and grants, which are subject to audit. The final determination of amounts received under these programs is generally based upon allowable costs reported to and subject to audit by supporting agencies. A contingency exists for the Company to refund any amounts received in excess of allowable costs. Management believes that disallowed costs, if any, will be immaterial to the financial statements.