Audit 349139

Title: Basis of Presentation Accounting Policies: The schedule of expenditures of federal awards includes the federal grant activity of the Bemidji Housing and Redevelopment Authority and is presented on the accrual basis of accounting for the year ended June 30, 2024. The information in this schedule is presented in accordance with the requirements of 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts in this schedule may differ from amounts presented in, or used in the preparation of the financial statements. De Minimis Rate Used: N Rate Explanation: The Authority has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. The schedule of expenditures of federal awards includes the federal grant activity of the Bemidji Housing and Redevelopment Authority and is presented on the accrual basis of accounting for the year ended June 30, 2024. The information in this schedule is presented in accordance with the requirements of 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts in this schedule may differ from amounts presented in, or used in the preparation of the financial statements.

Title: Indirect Costs Accounting Policies: The schedule of expenditures of federal awards includes the federal grant activity of the Bemidji Housing and Redevelopment Authority and is presented on the accrual basis of accounting for the year ended June 30, 2024. The information in this schedule is presented in accordance with the requirements of 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts in this schedule may differ from amounts presented in, or used in the preparation of the financial statements. De Minimis Rate Used: N Rate Explanation: The Authority has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. The Authority has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.