Audit 18946

Accounting Policies: Note 1 - Basis of PresentationThe accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Housing Assistance Program of Essex County, Inc. under programs of the federal government for the year ended December 31, 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). Because the Schedule presents only a selected portion of the operations of the Housing Assistance Program of Essex County, Inc., it is not intended to and does not present the statement of revenues, expenditures, and changes in fund balance of the Housing Assistance Program of Essex County, Inc.Note 2 - Summary of Certain Significant Accounting PoliciesExpenditures 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.Note 3 - SubrecipientsThe Housing Assistance Program of Essex County, Inc. provided federal awards to subrecipients as follows:NoneNote 4 Scope of AuditThe Organization is an independent corporation. All federal grant operations of the Organization are included in the scope of the single audit.Note 5 Non-monetary assistanceNonmonetary assistance is reported in the schedule at the fair market value of the commodities received and disbursed. For the year ended December 31, 2022, the Organization received no non-monetary assistance.Note 6 Indirect Cost RateThe Organization did not elect to use the 10% de minimus cost rate.Indirect costs may be included in the reported expenditures, to the extent that they are included in the federal financial reports used as the source for the data presented. The Organizations policy is not to charge federal award programs with indirect cost De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.