Audit 300787

Accounting Policies: 1. The Schedule of Expenditures of Federal Awards presents the activities of federal award programs expended by the Nevada Rural Housing Authority (the “Authority”). The Authority’s reporting entity is defined in Note 1 to the financial statements. 2. The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the Authority under programs of the federal government for the year ended June 30, 2023. 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 the Authority, it is not intended to and does not present the financial position, 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 is the same method of accounting as was used in the preparation of the Authority’s basic financial statements. 4. The Authority did not pass-through any federal awards to subrecipients during the fiscal year ended June 30, 2023. 5. Per compliance requirements, the $1,265,918 of Rural Rental Assistance Program (CFDA #10.427) expenditures include the balance of the debt ($795,517) outstanding at June 30, 2023. De Minimis Rate Used: N Rate Explanation: The PHA never applied to use the de minimis cost rate.