Audit 2037

Title: U.S. Department of Housing and Urban Development Loan Program Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Prairie Horizons, Inc. and is presented on the accrual basis of accounting. The information in this 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 this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. 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: N Rate Explanation: Prairie Horizons, Inc. did not elect to use a 10% de minimis indirect cost rate. Prairie Horizons, Inc. has received a U.S. Department of Housing and Urban Development direct loan under Section 811 of the National Housing Act. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the schedule. Prairie Horizons, Inc. received no additional loans during the year. The balance of the loan outstanding at June 30, 2023 consists of Assitance Listing Number: 14.181; Program Name: Section 811 Direct Loan; Outstanding Balance at June 30, 2023: $ 1,023,200.