Audit 55118

Accounting Policies: 1.The accompanying schedule of expenditures of federal and state awards (the Schedule) includes the federal and state award activity of The Davis Street Community Center Incorporated, d/b/a Davis Street, under programs of the federal government and the state of California 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) and the California Department of Education (CDE) Audit Guide. Because the Schedule presents only a selected portion of the operations of The Davis Street Community Center Incorporated, d/b/a Davis Street, it is not intended to and does not present the financial position, changes in net assets or cash flows of The Davis Street Community Center Incorporated, d/b/a Davis Street. 2.Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and the California Department of Education (CDE) Audit Guide, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Davis Street Community Center Incorporated, d/b/a Davis Street, has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. 3.The Davis Street Community Center Incorporated, d/b/a Davis Street, did not have any federal loan programs during the year ended June 30, 2022. 4.The Davis Street Community Center Incorporated, d/b/a Davis Street, did not provide a federal award to a subrecipient during the year ended June 30, 2022. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.