10.25.2023 OMA Board Book

Auditor Communications

QUALITATIVE ASPECTS OF ACCOUNTING PRACTICES (CONTINUED)

ACCOUNTING ESTIMATES

DISCLOSURES

Certain accounting estimates are particularly sensitive because of their significance to the consolidated financial statements and because of the possibility that future events affecting them may differ significantly from those expected. The most sensitive estimates affecting the consolidated financial statements were: • Depreciable lives of property and equipment, which are based on assumptions about the ultimate useful life of each asset • Functional expense allocations, which are based on allocation models using logical drivers of costs, such as personnel cost of square footage, across programs We evaluated the key factors and assumptions used to develop the estimates in determining that they are reasonable in relation to the consolidated financial statements taken as a whole.

The disclosures to the consolidated financial statements are neutral, consistent and clear. Certain financial statement disclosures are particularly sensitive because of their significance to the users of the consolidated financial statements. The most sensitive disclosure affecting the consolidated financial statements is: • The disclosure of the fair value of the alternative investments in Note 2 to the consolidated financial statements

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