Audit 301619

Title: Basis of Presentation 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 to reimbursement. De Minimis Rate Used: N Rate Explanation: Housing Fund for Linn County opted not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of Housing Fund for Linn County 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 Housing Fund for Linn County, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Housing Fund for Linn County.

Title: Subrecipients 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 to reimbursement. De Minimis Rate Used: N Rate Explanation: Housing Fund for Linn County opted not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance There were no awards passed through to subrecipients.