Audit 302225

Title: Outstanding Federal Loans Accounting Policies: 1. Basis of presentation The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the expenditures of Ravinia Housing Association under programs of the federal government for the year ended December 31, 2023. 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. 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 the Uniform Guidance 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. Ravinia Housing Association did not elect to use the 10% de minimis indirect cost rate. De Minimis Rate Used: N Rate Explanation: Ravinia Housing Association did not elect to use the 10% de minimis indirect cost rate. The following represents the amount of outstanding loans identified by AL No. All loans are provided by HUD and are included in the Schedule.