Audit 351086

Title: Insurance Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Housing Development Alliance, Inc. 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 (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in, the preparation of the financial statements. The Organization did not elect to use the 10% de minimis indirect cost rate during the audit year. De Minimis Rate Used: N Rate Explanation: The Organization did not elect to use the 10% de minimis indirect cost rate during the audit year. The Organization carried insurance coverage during the entire year in amounts sufficient to or in excess of required levels, including coverage for general and professional liability, real and personal property, workers’ compensation and fidelity bonding of employees who have access to funds.