Audit 351684

Title: Loans Outsanding Accounting Policies: Basis of Presentation The accompanying schedule of expenditures of federal awards (the “Schedule”) for the year ended June 30, 2024 includes the federal grant activity of the Department of Hawaiian Home Lands (“DHHL”) and is presented on the cash 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”). Because the Schedule presents only a selected portion of the operations of the Department, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Department. De Minimis Rate Used: N Rate Explanation: The Department has elected not use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The Department had the following loan balances outstanding as of June 30, 2024. Loans made during the year are included in the federal expenditures presented in the schedule. See the Notes to the SEFA for table.