Audit 316368

Title: Basis of Presentation Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal award grant activities of the project and is presented on the accrual basis of accounting. The information in the schedule is presented in accordance with the requirements of Title 2, U.S. Code of Federal Regulations, Part 200, Uniform Administrative Requirements, Costs Principles and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of the Project, it is not intended to, and does not, present the financial position, changes in assets, or cash flows of the Project. De Minimis Rate Used: N Rate Explanation: The Project 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 includes the federal award activity of Caldwell Housing Corporation ("the Project") and is presented in accordance with the requirements of Title 2, U.S. Code of Federal Regulations, Part 200, Uniform Administrative Requirements, Costs Principles and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of the Project, it is not intended to, and does not, present the financial position, changes in assets, or cash flows of the Project.