Audit 350378

Title: NOTE A BASIS OF PRESENTATION Accounting Policies: Expenditures - Expenditures reported in 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. Indirect Cost Allocation Rate - Polk County Housing Trust Fund has elected not to use the 10 percent de minimus indirect cost rate as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: Polk County Housing Trust Fund has elected not to use the 10 percent de minimus indirect cost rate as allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Polk County Housing Trust Fund under programs of the federal government for the year ended June 30, 2024. The information in the 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 Polk County Housing Trust Fund, it is not intended to and does not present the financial position, changes in net assets or cash flows of Polk County Housing Trust Fund.

Title: NOTE B SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting Policies: Expenditures - Expenditures reported in 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. Indirect Cost Allocation Rate - Polk County Housing Trust Fund has elected not to use the 10 percent de minimus indirect cost rate as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: Polk County Housing Trust Fund has elected not to use the 10 percent de minimus indirect cost rate as allowed under the Uniform Guidance. Expenditures Expenditures reported in 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. Indirect Cost Allocation Rate Polk County Housing Trust Fund has elected not to use the 10 percent de minimus indirect cost rate as allowed under the Uniform Guidance.