Audit 44518

Accounting Policies: NOTE 1 BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Area Five Agency on Aging and Community Services, Inc., under programs of the federal government 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 Area Five Agency and Community Services, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Area Five. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Area Five Agency on Aging and Community Services, Inc. has elected not to use the 10-percent de minimus indirect cost rate as allowed under the Uniform Guidance. Such expenditures are recognized following, as applicable the cost principles contained in Title 2 U.S. Code of Federal Regulations 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 De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.