Audit 351719

Title: BASIS OF PRESENTATION Accounting Policies: Expenditures reported on 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. De Minimis Rate Used: Y Rate Explanation: ODA Community Development Corp. has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards (“the Schedule”) includes the federal grant activity of ODA Community Development Corp. under programs of the federal government for the year ended June 30, 2024. The information in this schedule is presented in accordance with the requirement 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 ODA Community Development Corp., it is not intended to and does not present the financial position, changes in net assets or cash flows of ODA Community Development Corp.

Title: NON-CASH AWARDS Accounting Policies: Expenditures reported on 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. De Minimis Rate Used: Y Rate Explanation: ODA Community Development Corp. has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The amount of Special Supplemental Nutrition Program for Women, Infant, and Children reported on the schedule of expenditures includes support vouchers and benefits distributed by ODA Community Development Corp. to certain eligible participants. However, since the organization is only an agent to distribute the vouchers and benefits and is not actually a recipient of the voucher funds, these proceeds and expenditures are not recognized in revenues and expenses for financial statement purposes. For the year ended June 30, 2024, such vouchers and benefits totaled $8,073,922.

Title: SUBRECIPIENTS Accounting Policies: Expenditures reported on 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. De Minimis Rate Used: Y Rate Explanation: ODA Community Development Corp. has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. ODA Community Development Corp. did not provide any federal awards to subrecipients.