Audit 357837

Title: Basis of Presentation Accounting Policies: Expense Recognition 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 allowed or are limited as to reimbursement. Payments to Subrecipients There were no payments to subrecipients for the fiscal year ended December 31, 2024. De Minimis Rate Used: N Rate Explanation: The Housing Authority of the Town of Berwick has elected not to use the 10% 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 the Housing Authority of the Town of Berwick under programs of the federal government for the year ended December 31, 2024. The information in the 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 Housing Authority of the Town of Berwick it is not intended to and does not present the financial position, changes in net position, or cash flows of the Housing Authority of the Town of Berwick.

Title: Summary of Significant Accounting Policies Accounting Policies: Expense Recognition 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 allowed or are limited as to reimbursement. Payments to Subrecipients There were no payments to subrecipients for the fiscal year ended December 31, 2024. De Minimis Rate Used: N Rate Explanation: The Housing Authority of the Town of Berwick has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. Expense Recognition 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 allowed or are limited as to reimbursement. Payments to Subrecipients There were no payments to subrecipients for the fiscal year ended December 31, 2024.

Title: Indirect Cost Rate Accounting Policies: Expense Recognition 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 allowed or are limited as to reimbursement. Payments to Subrecipients There were no payments to subrecipients for the fiscal year ended December 31, 2024. De Minimis Rate Used: N Rate Explanation: The Housing Authority of the Town of Berwick has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The Housing Authority of the Town of Berwick has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.