Audit 319909

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: Bonifacio Cora Texidor Housing Development Fund 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 Bonifacio Cora Texidor Housing Development Fund Corporation 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 Bonifacio Cora Texidor Housing Development Fund Corporation, it is not intended to and does not present the financial position, changes in net assets or cash flows of Bonifacio Cora Texidor Housing Development Fund Corporation.

Title: Summary of significant accounting policies 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: Bonifacio Cora Texidor Housing Development Fund Corporation has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. 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.

Title: Indirect cost rate 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: Bonifacio Cora Texidor Housing Development Fund Corporation has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. Bonifacio Cora Texidor Housing Development Fund Corporation has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.

Title: Subrecipients 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: Bonifacio Cora Texidor Housing Development Fund Corporation has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. No federal expenditures in this Schedule were provided to subrecipients

Title: Loan outstanding 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: Bonifacio Cora Texidor Housing Development Fund Corporation has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. Bonifacio Cora Texidor Housing Development Fund Corporation had a U.S. Department of Housing and Urban Development direct loan under Section 202 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. Bonifacio Cora Texidor Housing Development Fund Corporation received no additional loans during the year. The balance of the loan outstanding at December 31, 2023 consists of: Federal Assistance Listing Number Program name Outstanding balance at 12/31/23 14.157 Supportive Housing for the Elderly $ 9,328,300