Audit 297117

Title: BASIS OF PRESENTATION Accounting Policies: Expenditures are recognized on the accural basis of accounting. Such expenditures are recongized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement. The Authority has elected not to use the 10 percent de minimus indirect cost rate allowed under the Uniform Guidance. The Authority had no grant subrecipents. De Minimis Rate Used: N Rate Explanation: Expenditures are recognized on the accural basis of accounting. Such expenditures are recongized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement. The accompanying schedule of expenditures of federal awards (the Schedule) includes federal award activity of the Housing Authority of the City of Belle Glade, Florida and is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, UNIFORM ADMINISTRATION REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Authority, it is not intended to, and does not, present the financial position, changes in net position, or cash flows of the Authority.

Title: CONTINGENCIES Accounting Policies: Expenditures are recognized on the accural basis of accounting. Such expenditures are recongized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement. The Authority has elected not to use the 10 percent de minimus indirect cost rate allowed under the Uniform Guidance. The Authority had no grant subrecipents. De Minimis Rate Used: N Rate Explanation: Expenditures are recognized on the accural basis of accounting. Such expenditures are recongized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement. Amounts received or receivable from grantor agencies are subject to audit and adjustment by those agencies. Any disallowed claims, including amounts already received, might constitute a liability of the Authority for the return of those funds. In the opinion of management, all grant expenditures were in compliance with the terms of the grant agreements and applicable state laws and regulations.

Title: FARM LABOR HOUSING LOANS Accounting Policies: Expenditures are recognized on the accural basis of accounting. Such expenditures are recongized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement. The Authority has elected not to use the 10 percent de minimus indirect cost rate allowed under the Uniform Guidance. The Authority had no grant subrecipents. De Minimis Rate Used: N Rate Explanation: Expenditures are recognized on the accural basis of accounting. Such expenditures are recongized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement. This program had $2,060,000 of loans outstanding at September 30, 2023, and no new loan proceeds were received during the year ended September 30, 2023.