Audit 319235

Title: NOTE A – BASIS OF PRESENTATION Accounting Policies: NOTE B – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures reported on the Schedule are presented in conformity with Generally Accepted Accounting Principles (GAAP). Such expenditures are recognized following the cost principles contained in Uniform Guidance wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: NOTE C – INDIRECT COST RATE The Authority has elected not to use the 10-percnet de minimis indirect cost rate as allowed under the Uniform Guidance. The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the Logan County Metropolitan Housing Authority (the Authority) under programs of the federal government for the year ended December 31, 2023. The information on this Schedule is prepared 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 the Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Authority.

Title: NOTE D – SUBRECIPIENTS Accounting Policies: NOTE B – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures reported on the Schedule are presented in conformity with Generally Accepted Accounting Principles (GAAP). Such expenditures are recognized following the cost principles contained in Uniform Guidance wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: NOTE C – INDIRECT COST RATE The Authority has elected not to use the 10-percnet de minimis indirect cost rate as allowed under the Uniform Guidance. The Authority provided no federal awards to subrecipients during the year ended December 31, 2023.

Title: NOTE E – DISCLOSURE OF OTHER FORMS OF ASSISTANCE Accounting Policies: NOTE B – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures reported on the Schedule are presented in conformity with Generally Accepted Accounting Principles (GAAP). Such expenditures are recognized following the cost principles contained in Uniform Guidance wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: NOTE C – INDIRECT COST RATE The Authority has elected not to use the 10-percnet de minimis indirect cost rate as allowed under the Uniform Guidance. The Authority received no federal awards of non-monetary assistance that are required to be disclosed for the year ended December 31, 2023. The Authority had no loans, loan guarantees, or federally restricted endowment funds required to be disclosed for the year ended December 31, 2023.