Title: Note 1
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant award activity of Pipestone Housing and Redevelopment Authority, Pipestone, Minnesota 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
* Denotes Major Program
Title: Note 2
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant award activity of Pipestone Housing and Redevelopment Authority, Pipestone, Minnesota 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Type A programs were determined based on $750,000 threshold.
Title: Note 3
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant award activity of Pipestone Housing and Redevelopment Authority, Pipestone, Minnesota 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Major programs were determined based on $750,000 theshold.
Title: Note 4
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant award activity of Pipestone Housing and Redevelopment Authority, Pipestone, Minnesota 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Total outstanding loans at September 30, 2023, $-0-.