Audit 20306

Title: Subrecipients Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Ho-Chunk Housing and Community Development Agency, Inc. (the "Agency") under programs of the federal government for the year ended December 31, 2022. The information in the 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 (the "Uniform Guidance"). Because the Schedule presents only a selected portion of the operations of the Agency, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Agency. Expenditures reported on the Schedule are reported on the modified 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: N Rate Explanation: The Agency has not elected to use the 10-percent de minimus indirect cost rate as allowed under the UniformGuidance. The Agency did not pass through federal grant awards to subrecipients during the year ended December 31, 2022.