Audit 22142

Title: Loan/loan guarantee outstanding balances Accounting Policies: 1. The Schedule of Expenditures of Federal Awards presents the activities of federal award programsexpended by the Nevada Rural Housing Authority (the Authority). The Authoritys reporting entity isdefined in Note 1 to the financial statements.2. The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity ofthe Authority under programs of the federal government for the year ended June 30, 2022. Theinformation in this schedule is presented in accordance with the requirements of Title 2 U.S. Code ofFederal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selectedportion of the operations of the Authority, it is not intended to and does not present the financialposition, changes in net position, or cash flows of the Authority.3. The Schedule of Expenditures of Federal Awards is presented on the accrual basis of accounting. This isthe same method of accounting as was used in the preparation of the Authoritys basic financialstatements.4. The Authority did not pass-through any federal awards to subrecipients during the fiscal year ended June30, 2022.5. Per compliance requirements, the $1,265,918 of Rural Rental Assistance Program (CFDA #10.427)expenditures include the balance of the debt ($848,250) outstanding at June 30, 2022. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. RURAL RENTAL ASSISTANCE PAYMENTS (10.427) - Balances outstanding at the end of the audit period were 848250.