Audit 306082

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 as to reimbursement. Cheyenne Meadows Housing Development Corporation has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: N/A The accompanying schedule of expenditures of federal awards includes the federal grant activity of Cheyenne Meadows Housing Development Corporation, HUD Project Number 116-EE020, 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 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 Cheyenne Meadows Housing Development Corporation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Cheyenne Meadows Housing Development Corporation.

Title: U.S. Department of Housing and Urban Development Loan Program 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 as to reimbursement. Cheyenne Meadows Housing Development Corporation has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: N/A Cheyenne Meadows Housing Development Corporation has received a U.S. Department of Housing and Urban Development direct loan under Section 202 of the National Housing Act. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. Cheyenne Meadows Housing Development Corporation received no additional loans during the year. The balance of the loan outstanding at June 30, 2023 consists of: Federal Assistance Listing Number (ALN) 14.157 Program Name Supportive Housing for the Elderly Outstanding Balance at June 30, 2023 $ 1,101,400