Audit 49278

Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Chimes International Limited and Related Entities (the Organization) under programs of the federal government for the year ended June 30, 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 on a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization. There were no amounts paid to subrecipients for the year ended June 30, 2022. Expenditures reported on the schedule of expenditures of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: The Organization does not charge indirect costs to its federal awards. As such, the Organization has not elected to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.