Audit 353491

Title: Basis of Presentation Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting, except for the loan balances as discussed below. 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. Greenvale Place of Northfield, Inc.’s federal awards are not based on eligible costs incurred. De Minimis Rate Used: N Rate Explanation: Greenvale Place of Northfield, Inc. has not made an election related to the use of the 10% de minimis indirect cost rate described in the Uniform Guidance. This schedule includes the federal grant activity of Greenvale Place of Northfield, Inc. under programs of the federal government for the year ended December 31, 2024. 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 (the Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Greenvale Place of Northfield, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Greenvale Place of Northfield, Inc.

Title: Mortgage Loans Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting, except for the loan balances as discussed below. 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. Greenvale Place of Northfield, Inc.’s federal awards are not based on eligible costs incurred. De Minimis Rate Used: N Rate Explanation: Greenvale Place of Northfield, Inc. has not made an election related to the use of the 10% de minimis indirect cost rate described in the Uniform Guidance. Federal expenditures for the Mortgage Insurance – Rental Housing program represent the December 31, 2023 balances of loans outstanding from previous years for which HUD imposes continuing compliance requirements. The balances of the Mortgage Insurance – Rental Housing loans as of December 31, 2024 are $453,883 and $654,111.