Audit 1181

Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal grant activity of Indian Rock Supportive Housing, Inc. and is presented on the accrual basis of accounting. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the OMB Circular A-122, Cost Principles for Non-Profit Organizations and the Uniform Guidance, wherein certain types of expenditures are not allowed. Assistance Listing numbers (“AL No.”) are provided when available. The Organization has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. The following represents the amount of outstanding loans identified by AL No. All loans are provided by HUD and are included in the Schedule. AL No. 14.239 Program title HOME Investment Partnerships Program Loans received in 2023 $- Prior year loans with continuing compliance requirements $500,000 Total outstanding loans $500,000 De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.