Audit 23328

Title: NOTE 3 PRIOR YEARS EXPENDITURES Accounting Policies: NOTE 1 BASIS OF PRESENTATION The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the expenditures of Cupertino Community Housing for the Disabled, Inc. (A California non-profit public benefit corporation) 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 Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards. Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of the financial statements. For purposes of the Schedule, federal awards include all subawards to Cupertino Community Housing for the Disabled, Inc. by nonfederal organizations pursuant to federal grants, contracts and similar agreements. De Minimis Rate Used: N Rate Explanation: NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards and OMB Circular A-122, Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowed. Assistance Listing numbers (AL No.) are provided when available. Cupertino Community Housing for the Disabled, Inc. elected not to use the 10% de minimis indirect cost rate. The accompanying Schedule includes $1,259,803 in expenditures from prior years for which continuing compliance is required.