Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards modified cash basis (the Schedule)includes the federal award activity of I Ola Lahui, Inc. under programs of the federal government forthe year ended December 31, 2022. The information in this Schedule is presented in accordance withthe requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).Because the Schedule presents only a selected portion of the operations of I Ola Lahui, Inc., it is notintended to and does not present the financial position, changes in net assets, or cash flows.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.