Audit 342802

Accounting Policies: Note 1. Basis of Presentation The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Simpson Housing Services, Inc. and subsidiaries (Simpson) 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 (the Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Simpson, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Simpson. Note 2. Summary of Significant Accounting Policies Expenditures reported in the Schedule are reported on the accrual basis of accounting. When applicable, 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. No federal assistance has been provided to a subrecipient. De Minimis Rate Used: N Rate Explanation: Simpson has not elected to use the 10% de minimis cost rate allowed under the Uniform Guidance.