Audit 55112

Title: BASIS OF PRESENTATION Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards are reported on themodified accrual basis of accounting. Such expenditures are recognized following the costprinciples contained in the Uniform Guidance, wherein certain types of expenditures are notallowable or are limited as to reimbursement. Negative amounts shown on the Schedule representadjustments or credits made in the normal course of business to amounts reported as expendituresin prior years. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Area Special Education Cooperative Council No. 997 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 (the Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Area Special Education Cooperative Council No. 997, it is not intended to and does not present thefinancial position or changes in net position of Area Special Education Cooperative Council No. 997.