Audit 306189

Title: Basis of Presentation Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Stoneleigh Housing, Inc. and is presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and/or OMB Circular A-122, Cost Principles for Nonprofit Organizations. 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 Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Stoneleigh Housing, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Stoneleigh Housing, Inc. De Minimis Rate Used: N Rate Explanation: The auditee does not allocate indirect costs. The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Stoneleigh Housing, Inc. and is presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and/or OMB Circular A-122, Cost Principles for Nonprofit Organizations. 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 Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Stoneleigh Housing, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Stoneleigh Housing, Inc.