Title: Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Apple
Grove Homes II, Inc. HUD Project 042-HD103 under programs of the federal government for the year
ended June 30, 2024 in accordance with the requirements of Title 2 U.S. Code of Federal Regulations
(CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for
Federal Awards (Uniform Guidance). Because the schedule only presents a selected portion of the
operations of Apple Grove Homes II, Inc., it is not intended to and does not present the financial position,
changes in net assets, or cash flows of Apple Grove Homes II, Inc.
De Minimis Rate Used: Y
Rate Explanation: 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 allowed or are limited as to reimbursement. Apple Grove Homes II,
Inc. has elected not to use the 10 percent de minimus indirect cost rate as allowed under Uniform
Guidance.
*Such expenditures are recognized following, as applicable, either the cost principles in OMB Circular A-
122 Cost Principles for Non-Profit Organizations, or the cost principles contained in the Uniform
Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Apple
Grove Homes II, Inc. HUD Project 042-HD103 under programs of the federal government for the year
ended June 30, 2024 in accordance with the requirements of Title 2 U.S. Code of Federal Regulations
(CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for
Federal Awards (Uniform Guidance). Because the schedule only presents a selected portion of the
operations of Apple Grove Homes II, Inc., it is not intended to and does not present the financial position,
changes in net assets, or cash flows of Apple Grove Homes II, Inc.
Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Apple
Grove Homes II, Inc. HUD Project 042-HD103 under programs of the federal government for the year
ended June 30, 2024 in accordance with the requirements of Title 2 U.S. Code of Federal Regulations
(CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for
Federal Awards (Uniform Guidance). Because the schedule only presents a selected portion of the
operations of Apple Grove Homes II, Inc., it is not intended to and does not present the financial position,
changes in net assets, or cash flows of Apple Grove Homes II, Inc.
De Minimis Rate Used: Y
Rate Explanation: 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 allowed or are limited as to reimbursement. Apple Grove Homes II,
Inc. has elected not to use the 10 percent de minimus indirect cost rate as allowed under Uniform
Guidance.
*Such expenditures are recognized following, as applicable, either the cost principles in OMB Circular A-
122 Cost Principles for Non-Profit Organizations, or the cost principles contained in the Uniform
Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
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 allowed or are limited as to reimbursement. Apple Grove Homes II,
Inc. has elected not to use the 10 percent de minimus indirect cost rate as allowed under Uniform
Guidance.
*Such expenditures are recognized following, as applicable, either the cost principles in OMB Circular A-
122 Cost Principles for Non-Profit Organizations, or the cost principles contained in the Uniform
Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement.