Audit 47830

Accounting Policies: The accompanying schedule of expenditures of federal and state awards ( the Schedule) includes the federal and stategrant activity of Urban Ministries of Wake County, Inc. for the year ended June 30, 2022. The information in theSchedule 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 (UniformGuidance). Because the Schedule presents only a selected portion of the operations of the Organization, it is notintended to and does not present the financial position, changes in net assets, or cash flows of the Organization. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures arerecognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements for Federal Awards and U.S. Department ofthe Treasury's guidance and FAQs published in the Federal Register, as applicable, wherein certain types ofexpenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: The Organization has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.