Audit 308919

Title: Note 1 - Basis of Presentation Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, the cost principles contained in OMB Circular A-122, “Cost Principles for Non-Profit Organizations” and the cost principles contained in the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: Ability Housing, Inc. and Affiliates has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards, state financial assistance and other awards (the Schedule) includes the federal, state and other award activity of Ability Housing, Inc. and Affiliates under programs of the federal and state governments for the year ended December 31, 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) and as described in Chapter 10.650 Rules of the Auditor General. Because the Schedule presents only a selected portion of the operations of Ability Housing, Inc. and Affiliates, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.