Audit 4588

Title: Note 1 - Basis of Presentation Accounting Policies: Note 2 – Summary of Significant Accounting Policies Expenditures reported in the Schedule are reported on the accrual basis of accounting. See Note B of the notes to the financial statements for United Way of Tarrant County’s significant accounting policies. These expenditures are reported on United Way of Tarrant County’s fiscal year-end, which is from July 1, 2022 to June 30, 2023. Expenditure reports to funding agencies are prepared based on award periods. Such expenditures are recognized following the cost principles in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. United Way of Tarrant County has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance with the exception of the Volunteer Income Tax Assistance (VITA) Matching Grant Programs identified on the Schedule as 22VITA0250. De Minimis Rate Used: N Rate Explanation: See last sentence in above Note 2. Note 1 – Basis of Presentation The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of United Way of Tarrant County under programs of the federal government for the year ended June 30, 2023. 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 United Way of Tarrant County, it is not intended to, and does not, present the financial position, changes in net assets, or cash flows of United Way of Tarrant County.