Audit 338488

Title: Basis of Presentation Accounting Policies: Accrual basis of accounting De Minimis Rate Used: N Rate Explanation: Elected not to use it The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Louisville Affordable Housing Trust Fund, Inc. 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 Louisville Affordable Housing Trust Fund, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Louisville Affordable Housing Trust Fund, Inc.

Title: Significant Accounting Policies Accounting Policies: Accrual basis of accounting De Minimis Rate Used: N Rate Explanation: Elected not to use it 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 allowable or are limited as to reimbursement. Louisville Affordable Housing Trust Fund, Inc. has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. Louisville Affordable Housing Trust Fund, Inc. had no sub-recipients for the year ended June 30, 2024.