Audit 323881

Accounting Policies: BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES The schedule of expenditures of federal awards includes the federal grant activity of Salmon Creek Housing, Inc. for Salmon Creek Housing - HUD Project No. 176-HD023 and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Salmon Creek Housing, Inc. has elected not to use the 10% de minimis indirect cost rate. Salmon Creek Housing, Inc. has a capital advance included on the schedule of expenditures of federal awards representing a loan balance of $777,333 as of June 30, 2024. De Minimis Rate Used: N Rate Explanation: Salmon Creek Housing, Inc. has elected not to use the 10% de minimis indirect cost rate.