Audit 302463

Title: Loans Outstanding Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Birch Leaf Apartments, Inc. (the Organization) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principals, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. De Minimis Rate Used: N Rate Explanation: Does not use de minimus cost rate. The Organization had the following loan/grant balances outstanding at December 31, 2023. These loan/grant balances outstanding are also included in the federal expenditures presented in the schedule. Assistance Listing Amount Cluster/Program Title Number Outstanding Supportive Housing for Persons with Disabilities (Section 811) 14.181 $ 797,800