Audit 7930

Title: Summary of Significant Accounting Policies Accounting Policies: Basis of Presentation - The accompanying schedule of expenditures of federal awards includes the federal grant activity of Liberty Community Services, Inc. and Subsidiaries under programs of the federal government for the year ended June 30, 2023. 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 this schedule presents only a selected portion of the operations of Liberty Community Services, Inc. and Subsidiaries, it is not intended to and does not present the consolidated financial position, changes in net assets or cash flows of Liberty Community Services, Inc. and Subsidiaries. Basis of Accounting - 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, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: Y Rate Explanation: Liberty Community Services, Inc. and Subsidiaries has elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. Basis of Presentation - The accompanying schedule of expenditures of federal awards includes the federal grant activity of Liberty Community Services, Inc. and Subsidiaries under programs of the federal government for the year ended June 30, 2023. 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 this schedule presents only a selected portion of the operations of Liberty Community Services, Inc. and Subsidiaries, it is not intended to and does not present the consolidated financial position, changes in net assets or cash flows of Liberty Community Services, Inc. and Subsidiaries. Basis of Accounting - 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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.