Audit 359301

Title: NOTE 01 ‐ SCOPE OF PRESENTATION Accounting Policies: The expenditures included in the accompanying schedule were reported on an accrual basis of accounting. Expenditures are recognized in the accounting period in which the related liability is incurred. Expenditures reported included any property or equipment acquisitions incurred under the federal program. The accompanying schedule presents the expenditures incurred (and related awards received) by Crossville Housing Authority (the Authority) that are reimbursable under federal programs of federal agencies providing financial assistance awards. For the purpose of this schedule, only the portion of the program expenditures reimbursable with such federal funds is reported in the accompanying schedule. Program expenditures in excess of the maximum federal reimbursement authorized or the portion of the program expenditures that were funded with local or other nonfederal funds are excluded from the accompanying schedule. This schedule also only includes the amounts expended by the Authority, none of the amount expended, if any, by the blended component units have been included. De Minimis Rate Used: N Rate Explanation: The Authority has elected not to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance Section 414. The accompanying schedule presents the expenditures incurred (and related awards received) by Crossville Housing Authority (the Authority) that are reimbursable under federal programs of federal agencies providing financial assistance awards. For the purpose of this schedule, only the portion of the program expenditures reimbursable with such federal funds is reported in the accompanying schedule. Program expenditures in excess of the maximum federal reimbursement authorized or the portion of the program expenditures that were funded with local or other nonfederal funds are excluded from the accompanying schedule. This schedule also only includes the amounts expended by the Authority, none of the amount expended, if any, by the blended component units have been included.

Title: NOTE 02 ‐ BASIS OF ACCOUNTING Accounting Policies: The expenditures included in the accompanying schedule were reported on an accrual basis of accounting. Expenditures are recognized in the accounting period in which the related liability is incurred. Expenditures reported included any property or equipment acquisitions incurred under the federal program. The accompanying schedule presents the expenditures incurred (and related awards received) by Crossville Housing Authority (the Authority) that are reimbursable under federal programs of federal agencies providing financial assistance awards. For the purpose of this schedule, only the portion of the program expenditures reimbursable with such federal funds is reported in the accompanying schedule. Program expenditures in excess of the maximum federal reimbursement authorized or the portion of the program expenditures that were funded with local or other nonfederal funds are excluded from the accompanying schedule. This schedule also only includes the amounts expended by the Authority, none of the amount expended, if any, by the blended component units have been included. De Minimis Rate Used: N Rate Explanation: The Authority has elected not to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance Section 414. The expenditures included in the accompanying schedule were reported on an accrual basis of accounting. Expenditures are recognized in the accounting period in which the related liability is incurred. Expenditures reported included any property or equipment acquisitions incurred under the federal program.

Title: NOTE 03 ‐ 10% DE MINIMIS INDIRECT COST RATE Accounting Policies: The expenditures included in the accompanying schedule were reported on an accrual basis of accounting. Expenditures are recognized in the accounting period in which the related liability is incurred. Expenditures reported included any property or equipment acquisitions incurred under the federal program. The accompanying schedule presents the expenditures incurred (and related awards received) by Crossville Housing Authority (the Authority) that are reimbursable under federal programs of federal agencies providing financial assistance awards. For the purpose of this schedule, only the portion of the program expenditures reimbursable with such federal funds is reported in the accompanying schedule. Program expenditures in excess of the maximum federal reimbursement authorized or the portion of the program expenditures that were funded with local or other nonfederal funds are excluded from the accompanying schedule. This schedule also only includes the amounts expended by the Authority, none of the amount expended, if any, by the blended component units have been included. De Minimis Rate Used: N Rate Explanation: The Authority has elected not to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance Section 414. The Authority has elected not to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance Section 414.

Title: NOTE 04 ‐ FEDERAL LOAN BALANCES Accounting Policies: The expenditures included in the accompanying schedule were reported on an accrual basis of accounting. Expenditures are recognized in the accounting period in which the related liability is incurred. Expenditures reported included any property or equipment acquisitions incurred under the federal program. The accompanying schedule presents the expenditures incurred (and related awards received) by Crossville Housing Authority (the Authority) that are reimbursable under federal programs of federal agencies providing financial assistance awards. For the purpose of this schedule, only the portion of the program expenditures reimbursable with such federal funds is reported in the accompanying schedule. Program expenditures in excess of the maximum federal reimbursement authorized or the portion of the program expenditures that were funded with local or other nonfederal funds are excluded from the accompanying schedule. This schedule also only includes the amounts expended by the Authority, none of the amount expended, if any, by the blended component units have been included. De Minimis Rate Used: N Rate Explanation: The Authority has elected not to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance Section 414. Balance at Balance at Federal Program Loans ALN 01/01/24 Additions Deletions 12/31/24 Rural Rental Housing Loans 10.415 $ 792,290 $ ‐ $ (51,135) $ 741,155 $ 792,290 $ ‐ $ (51,135) $ 741,155