Audit 344815

Title: NOTE A – BASIS OF PRESENTATION Accounting Policies: NOTE A – BASIS OF PRESENTATION The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the Housing Authority 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 Award (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Housing Authority, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Housing Authority. NOTE B – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (1) 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, Cost Principles of Non-profit Organizations regulations, wherein certain types of expenditures are not allowable or are limited as to reimbursement. (2) The Housing Authority has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. NOTE C – U.S. DEPARTMENT OF AGRICULTURE The Housing Authority administers a Direct Rural Assistance Program (Assisting Listing No 10.427) and Rural Rental Housing Loan Program (Assisting Listing No 10.415) funded by the U.S. Department of Agriculture. At June 30, 2024, the loan balance for the program totaled $182,220. The promissory note balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule for Assisting Listing No 10.415. The Housing Authority received no additional loans during the year. Total grants received under Assisting Listing No 10.427 are being reported as expenditures of federal awards. Additionally, in accordance with HUD guidelines, expenditures of federal awards for the fiscal year ended June 30, 2024 are as follows: • Public Housing and Capital Fund Programs – HUD operating and capital grants received • Section 8 Housing Choice Voucher Program – Total program expenses which includes any HAP Portability-In expenses • Emergency Housing Voucher – Total program expenditures NOTE D – SUBRECIPIENTS The PHA provided no federal awards to subrecipients during the year ended June 30, 2024. De Minimis Rate Used: N Rate Explanation: The Housing Authority has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the Housing Authority 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 Award (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Housing Authority, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Housing Authority.

Title: NOTE B – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting Policies: NOTE A – BASIS OF PRESENTATION The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the Housing Authority 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 Award (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Housing Authority, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Housing Authority. NOTE B – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (1) 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, Cost Principles of Non-profit Organizations regulations, wherein certain types of expenditures are not allowable or are limited as to reimbursement. (2) The Housing Authority has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. NOTE C – U.S. DEPARTMENT OF AGRICULTURE The Housing Authority administers a Direct Rural Assistance Program (Assisting Listing No 10.427) and Rural Rental Housing Loan Program (Assisting Listing No 10.415) funded by the U.S. Department of Agriculture. At June 30, 2024, the loan balance for the program totaled $182,220. The promissory note balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule for Assisting Listing No 10.415. The Housing Authority received no additional loans during the year. Total grants received under Assisting Listing No 10.427 are being reported as expenditures of federal awards. Additionally, in accordance with HUD guidelines, expenditures of federal awards for the fiscal year ended June 30, 2024 are as follows: • Public Housing and Capital Fund Programs – HUD operating and capital grants received • Section 8 Housing Choice Voucher Program – Total program expenses which includes any HAP Portability-In expenses • Emergency Housing Voucher – Total program expenditures NOTE D – SUBRECIPIENTS The PHA provided no federal awards to subrecipients during the year ended June 30, 2024. De Minimis Rate Used: N Rate Explanation: The Housing Authority has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. 1) 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, Cost Principles of Non-profit Organizations regulations, wherein certain types of expenditures are not allowable or are limited as to reimbursement. (2) The Housing Authority has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.

Title: NOTE C – U.S. DEPARTMENT OF AGRICULTURE Accounting Policies: NOTE A – BASIS OF PRESENTATION The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the Housing Authority 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 Award (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Housing Authority, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Housing Authority. NOTE B – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (1) 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, Cost Principles of Non-profit Organizations regulations, wherein certain types of expenditures are not allowable or are limited as to reimbursement. (2) The Housing Authority has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. NOTE C – U.S. DEPARTMENT OF AGRICULTURE The Housing Authority administers a Direct Rural Assistance Program (Assisting Listing No 10.427) and Rural Rental Housing Loan Program (Assisting Listing No 10.415) funded by the U.S. Department of Agriculture. At June 30, 2024, the loan balance for the program totaled $182,220. The promissory note balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule for Assisting Listing No 10.415. The Housing Authority received no additional loans during the year. Total grants received under Assisting Listing No 10.427 are being reported as expenditures of federal awards. Additionally, in accordance with HUD guidelines, expenditures of federal awards for the fiscal year ended June 30, 2024 are as follows: • Public Housing and Capital Fund Programs – HUD operating and capital grants received • Section 8 Housing Choice Voucher Program – Total program expenses which includes any HAP Portability-In expenses • Emergency Housing Voucher – Total program expenditures NOTE D – SUBRECIPIENTS The PHA provided no federal awards to subrecipients during the year ended June 30, 2024. De Minimis Rate Used: N Rate Explanation: The Housing Authority has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. The Housing Authority administers a Direct Rural Assistance Program (Assisting Listing No 10.427) and Rural Rental Housing Loan Program (Assisting Listing No 10.415) funded by the U.S. Department of Agriculture. At June 30, 2024, the loan balance for the program totaled $182,220. The promissory note balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule for Assisting Listing No 10.415. The Housing Authority received no additional loans during the year. Total grants received under Assisting Listing No 10.427 are being reported as expenditures of federal awards. Additionally, in accordance with HUD guidelines, expenditures of federal awards for the fiscal year ended June 30, 2024 are as follows: • Public Housing and Capital Fund Programs – HUD operating and capital grants received • Section 8 Housing Choice Voucher Program – Total program expenses which includes any HAP Portability-In expenses • Emergency Housing Voucher – Total program expenditures

Title: NOTE D – SUBRECIPIENTS Accounting Policies: NOTE A – BASIS OF PRESENTATION The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the Housing Authority 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 Award (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Housing Authority, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Housing Authority. NOTE B – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (1) 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, Cost Principles of Non-profit Organizations regulations, wherein certain types of expenditures are not allowable or are limited as to reimbursement. (2) The Housing Authority has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. NOTE C – U.S. DEPARTMENT OF AGRICULTURE The Housing Authority administers a Direct Rural Assistance Program (Assisting Listing No 10.427) and Rural Rental Housing Loan Program (Assisting Listing No 10.415) funded by the U.S. Department of Agriculture. At June 30, 2024, the loan balance for the program totaled $182,220. The promissory note balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule for Assisting Listing No 10.415. The Housing Authority received no additional loans during the year. Total grants received under Assisting Listing No 10.427 are being reported as expenditures of federal awards. Additionally, in accordance with HUD guidelines, expenditures of federal awards for the fiscal year ended June 30, 2024 are as follows: • Public Housing and Capital Fund Programs – HUD operating and capital grants received • Section 8 Housing Choice Voucher Program – Total program expenses which includes any HAP Portability-In expenses • Emergency Housing Voucher – Total program expenditures NOTE D – SUBRECIPIENTS The PHA provided no federal awards to subrecipients during the year ended June 30, 2024. De Minimis Rate Used: N Rate Explanation: The Housing Authority has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. The PHA provided no federal awards to subrecipients during the year ended June 30, 2024