Audit 6572

Title: (a)              Scope of Presentation Accounting Policies: see form De Minimis Rate Used: Y Rate Explanation: Cambodian Association of America elected to use the 10% de minimus indirect cost rate. The accompanying schedule presents only the expenditures incurred by the Cambodian Association of America (the Organization) that are reimbursable under federal programs of federal agencies providing financial assistance. For purposes of this schedule, financial assistance includes both federal financial assistance received directly from a federal agency and expended, as well as federal funds received indirectly by the Organization from a non-federal agency and expended. Only the portion of program expenditures that are reimbursable with such federal funds are reported in the accompanying schedule. Program expenses in excess of the maximum federal reimbursement authorized or the portion of program expenses that were funded with state, local or other non-federal funds are excluded from the accompanying schedule.

Title: (b) Basis of Accounting Accounting Policies: see form De Minimis Rate Used: Y Rate Explanation: Cambodian Association of America elected to use the 10% de minimus indirect cost rate. The expenditures included in the accompanying schedule were reported on the accrual basis of accounting. Expenditures reported include any property or equipment acquisitions incurred under the Federal program. The accompanying schedule of expenditures of federal awards 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 (Office of Management and Budget Uniform Grant Guidance).The expenditures included in the accompanying schedule were reported on the accrual basis of accounting. Expenditures reported include any property or equipment acquisitions incurred under the Federal program. The accompanying schedule of expenditures of federal awards 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 (Office of Management and Budget Uniform Grant Guidance).

Title: © Subrecipients Accounting Policies: see form De Minimis Rate Used: Y Rate Explanation: Cambodian Association of America elected to use the 10% de minimus indirect cost rate. There were no payments of federal funds to subrecipients for the year ended December 31, 2022.