Audit 334698

Accounting Policies: NOTE A – BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards includes the federal grant activity of Self Reliance Housing, Inc., HUD Project No. 067-11180, and is presented on the accrual basis of accounting. The information in this schedule is presented 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the presentation of, the basic financial statements. The organization has not elected to use the 10% deminimus cost rate. The U.S. Department of Housing and Urban Development (HUD) guaranteed the mortgage note maintained by Self Reliance Housing, Inc. Under the terms of the loan guarantee, Self Reliance Housing, Inc. must comply with the rules and regulations established by HUD. The outstanding mortgage at the beginning of the year is included in the federal expenditures presented in the Schedule. The balance of the mortgage outstanding at September 30, 2024 is $1,003,830. De Minimis Rate Used: N Rate Explanation: The organization has not elected to use the 10% deminimus cost rate.