Audit 25188

Accounting Policies: 1.GENERAL INFORMATIONThe accompanying schedule of expenditures of federal awards (the Schedule) presents the federal award activities in all federal awards of OUB Court Housing Company Inc. All financial assistance received directly from federal agencies, as well as financial assistance passed through other governmental agencies or nonprofit organizations, is included on the Schedule.2.BASIS OF ACCOUNTINGThe Schedule is presented using the accrual basis of accounting. The amounts reported in the Schedule may differ from certain financial reports submitted to federal funding agencies due to those reports being submitted on either a cash or a modified cash basis of accounting.3.RELATIONSHIP TO BASIC FINANCIAL STATEMENTSFederal expenditures are reported on the statement of activities as operating costs before depreciation. The expenditures reported in the basic financial statements may differ from the expenditures reported in the Schedule due to program expenditures exceeding grant or contract budget limitations or agency matching or in-kind contributions which are not included as federal awards.4.BASIS OF PRESENTATIONThe accompanying Schedule includes the federal award activity of OUB Court Housing Company, Inc. 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 (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of OUB Court Housing Company, Inc., it is not intended and does not present the financial position, changes in net assets (deficit) or cash flows of OUB Court Housing Company, Inc. 5.INDIRECT COSTS OUB Court Housing Company, Inc. does not have a federally negotiated indirect cost rate and has not elected to use the 10% de minimis rate as covered in Section 200.414 in the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.