Audit 310442

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. De Minimis Rate Used: N Rate Explanation: Faneuil HIV Housing Corporation has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Faneuil HIV Housing Corporation, HUD Project No.: 023-HD-011, under programs of the federal government 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"). Because the Schedule presents only a selected portion of the operations of Faneuil HIV Housing Corporation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Faneuil HIV Housing 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. De Minimis Rate Used: N Rate Explanation: Faneuil HIV Housing Corporation has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. Faneuil HIV Housing Corporation has received a U.S. Department of Housing and Urban Development capital advance under Section 811 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. Faneuil HIV Housing Corporation received no additional loans during the year. The balance of the loan outstanding at December 31, 2023 consists of: Assisance Listing Number 14.181; Program Name - Supportive Housing for Persons with Disabilities ("Capital Advance") Outstanding balance at December 31,2023 $1,951,100.