Audit 47179

Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal awardactivity of Opportunities Credit Union (the Credit Union) under programs of the federal government for theyear ended December 31, 2022. The information in the Schedule is presented in accordance with therequirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards (the Uniform Guidance).Because the Schedule presents only a selected portion of the operations of the Credit Union, it is notintended to, and does not, present the financial condition, net income, changes in members equity, orcash flows of the Credit Union. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the Uniform Guidance, whereincertain types of expenditures are not allowable or are limited as to reimbursement De Minimis Rate Used: Y Rate Explanation: The auditee used the de minimis cost rate.