Audit 350592

Title: NOTE 3 -- BASIS OF PRESENTATION Accounting Policies: Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: Greater Charlottesville Habitat for Humanity, Inc. and Subsidiaries has not elected to use the 10% de minimis indirect cost rate allowed under Section 200.414 of the Uniform Guidance. The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Greater Charlottesville Habitat for Humanity, Inc. and Subsidiaries 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 (CFR) 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 Greater Charlottesville Habitat for Humanity, Inc. and Subsidiaries, it is not intended to and does not present the financial position and changes in net position of Greater Charlottesville Habitat for Humanity, Inc. and Subsidiaries.