Audit 325036

Title: Basis of presentation Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, 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: New Haven Jewish Community Council Housing 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 ("Schedule") includes the federal award activity of New Haven Jewish Community Council Housing Corporation, HUD Project No.: 017-11198, under programs of the federal government for the year ended June 30, 2024. 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 New Haven Jewish Community Council Housing Corporation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of New Haven Jewish Community Council Housing Corporation. For the year ended June 30, 2024, no awards were passed-through to subrecipients.

Title: U.S. Department of Housing and Urban Development loan program Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, 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: New Haven Jewish Community Council Housing Corporation has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. In accordance with the Uniform Guidance, the notes to the Schedule shall include loans and loan activities. The following is a summary of loan program activity for the year ended June 30, 2024: Issue date Interest rate Original amount Balance beginning Issued Retired Balance ending Mortgage 8/30/17 3.52% $ 12,900,600 $ 11,707,566 $ - $ 233,231 $ 11,474,335