Audit 358068

Accounting Policies: Basis of Presentation Casa Real IV Apartments San Diego, Texas HUD PROJECT NO. 115-EE00l-18-WAH Notes on Accounting Policies for Federal Awards For the Year Ended September 30, 2024 The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Casa Real lV Apartments and is presented on the modified accrual basis of accuunting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements. Suh-recipients During the year ended September 30, 2024, Casa Rea.I TV Apartments had no sub-recipients. Federal Loans and Loan Guarantees During the year ended September 30, 2024, Casa Real IV Apa1irner1ts had a HUD insured mortgage payable. Federally Funded Insurance During the year ended September 30, 2024, Casa Real IV Apartments had no federally funded insurance. Noncash Awards During the year anded September 30, 2024, Casa Real TV Apartments did not have any federal awards in the form of noncnsh assistance. Indirect Cost Rnte The Uniform Guidance allows an organization to elect a 10% de tninimus indirect cost rate. For the year ended September 30, 2024, the Casa Real lV Apartments did not elect to use this rate. 21 De Minimis Rate Used: N Rate Explanation: Basis of Presentation Casa Real IV Apartments San Diego, Texas HUD PROJECT NO. 115-EE00l-18-WAH Notes on Accounting Policies for Federal Awards For the Year Ended September 30, 2024 The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Casa Real lV Apartments and is presented on the modified accrual basis of accuunting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements. Suh-recipients During the year ended September 30, 2024, Casa Rea.I TV Apartments had no sub-recipients. Federal Loans and Loan Guarantees During the year ended September 30, 2024, Casa Real IV Apa1irner1ts had a HUD insured mortgage payable. Federally Funded Insurance During the year ended September 30, 2024, Casa Real IV Apartments had no federally funded insurance. Noncash Awards During the year anded September 30, 2024, Casa Real TV Apartments did not have any federal awards in the form of noncnsh assistance. Indirect Cost Rnte The Uniform Guidance allows an organization to elect a 10% de tninimus indirect cost rate. For the year ended September 30, 2024, the Casa Real lV Apartments did not elect to use this rate.