Audit 41628

Title: Assistance Listing Number 97.036 Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes thefederal award activity of the Kenai Peninsula Borough, Alaska (the Borough) under programs of thefederal government for the year ended June 30, 2022. The information in this schedule ispresented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for FederalAwards (Uniform Guidance). Because the Schedule presents only a selected portion of theoperations of the Borough, it is not intended to and does not present the financial position,changes in net position or cash flows of the Borough. Expenditures reported on the Schedule are reported on the modified 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.Negative amounts shown on the Schedule represent adjustments or credits made in the normalcourse of business to amounts reported as expenditures in prior years. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The Borough reported the Disaster Grants Public Assistance (Presidentially Declared Disasters)expenditures of $17,982 on the Schedule for the year ended June 30, 2022, which were associatedwith prior year expenditures.