Audit 340059

Title: NOTE 1 - BASIS OF PRESENTATION Accounting Policies: Section 202 Supportive Housing for the Elderly Project Rental Assistance Under Section 202 De Minimis Rate Used: N Rate Explanation: Monsignor Neagle Apartments, Inc. has elected not to use the IO percent de minim is indirect cost rate as allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards includes the federal award activity of Monsignor Neagle Apartments, Inc. 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 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 Monsignor Neagle Apartments, Inc. it is not intended to and does not present the financial position, changes in net assets, or cash flows of Monsignor Neagle Apartments, Inc. For the year ended September 30, 2024, no awards were passed through to subrecipients.

Title: NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting Policies: Section 202 Supportive Housing for the Elderly Project Rental Assistance Under Section 202 De Minimis Rate Used: N Rate Explanation: Monsignor Neagle Apartments, Inc. has elected not to use the IO percent de minim is indirect cost rate as allowed under the Uniform Guidance. 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. Monsignor Neagle Apartments, Inc. has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.

Title: NOTE 3 - U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT LOAN PROGRAM Accounting Policies: Section 202 Supportive Housing for the Elderly Project Rental Assistance Under Section 202 De Minimis Rate Used: N Rate Explanation: Monsignor Neagle Apartments, Inc. has elected not to use the IO percent de minim is indirect cost rate as allowed under the Uniform Guidance. Monsignor Neagle Apartments, Inc. has received a U.S. Department of Housing and Urban Development direct loan under Section 202 of the National Housing Act. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. Monsignor Neagle Apartments, Inc. received no additional loans during the year. The balance of the loan outstanding at September 30, 2024 consists of:

Title: NOTE 3 - U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT LOAN PROGRAM Accounting Policies: Section 202 Supportive Housing for the Elderly Project Rental Assistance Under Section 202 De Minimis Rate Used: N Rate Explanation: Monsignor Neagle Apartments, Inc. has elected not to use the IO percent de minim is indirect cost rate as allowed under the Uniform Guidance. Assistance Listing Number Program Name Outstanding Balance at September 30, 2024 14. 157 Section 202 Supportive $5,791,000 Housing for the Elderly

Title: NOTE 4 - FINDING OF NONCOMPLIANCE Accounting Policies: Section 202 Supportive Housing for the Elderly Project Rental Assistance Under Section 202 De Minimis Rate Used: N Rate Explanation: Monsignor Neagle Apartments, Inc. has elected not to use the IO percent de minim is indirect cost rate as allowed under the Uniform Guidance. There were no findings of noncompliance identified in connection with the Organization's single audit for the year ended September 30, 2024.