Audit 2262

Accounting Policies: Basis of Presentation Albany Housing Coalition, Inc. (AHC) is a not-for-profit organization. All federal grant operations of AHC are included in the scope of the single audit. The Schedule of Expenditures of Federal Awards (the Schedule) has been prepared for the period February 1, 2022 through January 31, 2023. This period corresponds with the fiscal year of AHC. 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 Albany Housing Coalition, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Albany Housing Coalition, Inc. Summary of Significant Accounting Policies 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. The amounts reported as federal expenditures in the Schedule represent the expenditures of federal funds. The nonfederal share of expenditures, if any, is excluded from the Schedule. Indirect Cost Rate AHC has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: AHC has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.