Audit 50949

Title: Fiscal Period Audited Accounting Policies: Basis of presentation - The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of The Chambers County Council for Neglected and Dependent Children and Youth, Inc. (the Organization) under programs of the federal government for the year ended September 30, 2022. The information in this Schedule is presented in accordance with 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 The Chambers County Council for Neglected and Dependent Children and Youth, Inc., some amounts presented may differ from amounts presented in, or used in the preparation of, the basic financial statements.Expenditures reported on the Schedule are reported on the modified cash basis of accounting. Such expenditures are recognized following the cost principles contained in the 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 has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The Organization uses the direct allocation method for joint administrative costs. Such costs are prorated individually and applied as direct costs to each award in accordance with approved program budgets. Single Audit testing procedures were performed for program transactions occurring during the fiscal year ended September 30, 2022.