Audit 323050

Title: Boone County Senior Citizen Services Corporation d/b/ a The Bluffs HUD Project No. 085-43094 Notes to the Schedule of Expenditures of Federal Awards Year Ended December 31, 2021 Accounting Policies: The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Unform Administrative Requirements, Cost Principles, and audit Requirements for Federal Awards (Uniform Guidance). De Minimis Rate Used: N Rate Explanation: The Bluffs has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. 1. The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Boone County Senior Citizen Services Corporation, d/b/a The Bluffs (The Bluffs), under programs of the federal government for the year ended December 31, 2021. 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 The Bluffs, it is not intended to and does not present the financial position, results of operations, changes in net assets, or cash flows of The Bluffs. 2. Expenditures reported on the Schedule are reported on accrual basis of accounting. Such expenditures are recognized following the cost principles in OMB Circular A-122, Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. The Bluffs has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. 3. The federal loan program listed subsequently is administered directly by The Bluffs, and balances and transactions relating to these programs are included in The Bluffs' basic financial statements. Loans outstanding at the beginning of the year are included in the federal expenditures presented in the Schedule.