Audit 352883

Title: Basis of Presentation Accounting Policies: General, Basis of Accounting and Indirect Cost Rate De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Janisch-Houston Realty, LLC (the “Organization”) under programs of the federal government for the year ended December 31, 2023. 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 Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.

Title: Basis of Accounting Accounting Policies: General, Basis of Accounting and Indirect Cost Rate De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate 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.

Title: De Minimus Cost Rate Accounting Policies: General, Basis of Accounting and Indirect Cost Rate De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate The Organization has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.

Title: U.S. Department Of Housing and Urban Development Loan Program Accounting Policies: General, Basis of Accounting and Indirect Cost Rate De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate The Organization has received a U.S. Department of Housing and Urban Development direct loan under Section 232 of the National Housing Act. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. The Organization received no additional loans during the year. The loan balance outstanding at the end of the year was $827,711.

Title: Subrecipients Accounting Policies: General, Basis of Accounting and Indirect Cost Rate De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate The Organization did not pass any federal awards to subrecipients.