Audit 316394

Title: NOTE 4 - LOANS WITH CONTINUING COMPLIANCE REQUIREMENTS Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Shelter House Community Shelter and Transition Services 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 Shelter House Community Shelter and Transition Services, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Shelter House Community Shelter and Transition Services. 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 to reimbursement. De Minimis Rate Used: Y Rate Explanation: Shelter House Community Shelter and Transition Services has elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. Shelter House Community Shelter and Transition Services received the following funding from the U.S. Department of Housing and Urban Development. Loan documents require compliance with program regulations until the maturity date of the loan or the period of affordability expires. Loans outstanding as of the beginning of the year and loans received during the year are included in the federal expenditures presented in the Schedule, with balances outstanding as of December 31, 2023, as follows: Program / Property Number Date Balance CDBG - 429 Southgate Avenue 14.218 6/30/2103 $230,000 CDBG - 429 Southgate Avenue 14.218 6/30/2073 194,443 CDBG - 1323 Ashley Drive 14.218 10/1/2031 75,000 CDBG - 820 Cross Park Avenue 14.218 12/28/2023 25,000 HOME Investment Partnership - 1323 Ashley Drive 14.239 7/1/2041 100,000 CDBG - 429 Southgate Avenue 14.253 6/30/2073 116,785 Continuum of Care - 1447 Valley View Drive 14.267 7/15/2030 212,000 National Housing Trust Fund - 820 Cross Park Avenue 14.275 12/28/2053 2,700,000 HOME Investment Partnership - 15 Wakefield Ct. 14.239 12/31/2030 70,000 National Housing Trust Fund - 501 Southgate Avenue 14.275 12/31/2052 2,763,720 HOME Investment Partnership - 501 Southgate Avenue 14.239 10/18/2042 500,000 HOME Investment Partnership - 501 Southgate Avenue 14.239 12/31/2042 300,000 Total loans with federal continuing compliance requirements $7,286,948