Audit 349839

Accounting Policies: Basis of Presentation This schedule of expenditures of federal awards includes the federal grant activity of Crystal Run Owner Corporation (the Organization), HUD Project No. 012-HD021, 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. Capital Advance The Organization obtained from HUD a capital advance for the construction of its facilities. The outstanding balance of this capital advance at June 30, 2023 was $2,359,800. Indirect Costs The Organization has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: Indirect Costs The Organization has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.