Audit 36226

Title: Loan/loan guarantee outstanding balances Accounting Policies: 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 allowable or are limited as to reimbursement. Holy Trinity Properties, Inc. has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. SUPPORTIVE HOUSING FOR THE ELDERLY (14.157) - Balances outstanding at the end of the audit period were 637412.

Title: U.S. Department of Housing and Urban Development Loan Program Accounting Policies: 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 allowable or are limited as to reimbursement. Holy Trinity Properties, Inc. has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. Holy Trinity Properties, Inc has received a U.S. Department of Housing and Urban Devlopment direct loan under Section 202 of the National Housing Act. The loan balance outstanding at the beginning of the year is included in the federal expenditure presented in the schedule. Holy Trinity Properties, Inc. received no additional loans during the year. The balance of the loan outstanding on September 30, 2022, consists of: CFDA Number 14.157, Outstanding Balance on September 30, 2022, $637,412.

Title: Basis of Presentation Accounting Policies: 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 allowable or are limited as to reimbursement. Holy Trinity Properties, Inc. has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The accompanying schedule of expenditures of federal awards (schedule) includes activity of Holy Trinity Properties, Inc. under programs of the federal government or the year ended September 30, 2022. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulation Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selection portion of the operations of Holy Trinity Properties, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Holy Trinity Properties, Inc.