Audit 353996

Title: Basis of Presentation Accounting Policies: (1) Expenditures reported on this Schedule are reported on the accrual basis of accounting, except for the loan balance 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. (2) Pass-through entity identifying numbers are presented where available. De Minimis Rate Used: N Rate Explanation: SE Hall Whitney Young Housing Corporation’s federal awards are not based on eligible costs incurred. Accordingly, SE Hall-Whitney Young Housing Corporation has not made an election related to the use of the 10% de minimus indirect cost rate described in the Uniform Guidance. This schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of SE Hall-Whitney Young Corporation 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 SE Hall-Whitney Young Corporation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of SE Hall-Whitney Young Corporation.

Title: Loan Accounting Policies: (1) Expenditures reported on this Schedule are reported on the accrual basis of accounting, except for the loan balance 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. (2) Pass-through entity identifying numbers are presented where available. De Minimis Rate Used: N Rate Explanation: SE Hall Whitney Young Housing Corporation’s federal awards are not based on eligible costs incurred. Accordingly, SE Hall-Whitney Young Housing Corporation has not made an election related to the use of the 10% de minimus indirect cost rate described in the Uniform Guidance. Expenditures reported for the mortgage insurance program represent the December 31, 2023, balance of an insured mortgage loan outstanding from a previous year for which the grantor imposes continuing compliance requirements. The balance of the loan outstanding as of December 31, 2024, is $1,774,483.