Audit 362602

Title: NOTE 01 - SCOPE OF PRESENTATION Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the expenditures incurred (and related awards received) by the Northwest Regional Housing Authority (the Authority) that are reimbursable under federal programs of federal agencies providing financial assistance awards. For the purposes of this schedule, only the portion of program expenditures reimbursable with such federal funds are reported in the accompanying schedule. Program expenditures in excess of the maximum federal or state reimbursement authorized or the portion of the program expenditures that were funded with, state, local or other nonfederal funds are excluded from the accompanying schedule. The expenditures included in the accompanying schedule were reported on the 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 Schedule was prepared from only the accounts of the grant programs and, therefore, does not present the financial position or results of operations of the Authority De Minimis Rate Used: N Rate Explanation: The Authority did not elect to use the 10% de minimis indirect costs rate as allowed by Uniform Guidance. The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the expenditures incurred (and related awards received) by the Northwest Regional Housing Authority (the Authority) that are reimbursable under federal programs of federal agencies providing financial assistance awards. For the purposes of this schedule, only the portion of program expenditures reimbursable with such federal funds are reported in the accompanying schedule. Program expenditures in excess of the maximum federal or state reimbursement authorized or the portion of the program expenditures that were funded with, state, local or other nonfederal funds are excluded from the accompanying schedule.

Title: NOTE 02 - BASIS OF ACCOUNTING Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the expenditures incurred (and related awards received) by the Northwest Regional Housing Authority (the Authority) that are reimbursable under federal programs of federal agencies providing financial assistance awards. For the purposes of this schedule, only the portion of program expenditures reimbursable with such federal funds are reported in the accompanying schedule. Program expenditures in excess of the maximum federal or state reimbursement authorized or the portion of the program expenditures that were funded with, state, local or other nonfederal funds are excluded from the accompanying schedule. The expenditures included in the accompanying schedule were reported on the 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 Schedule was prepared from only the accounts of the grant programs and, therefore, does not present the financial position or results of operations of the Authority De Minimis Rate Used: N Rate Explanation: The Authority did not elect to use the 10% de minimis indirect costs rate as allowed by Uniform Guidance. The expenditures included in the accompanying schedule were reported on the 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 Schedule was prepared from only the accounts of the grant programs and, therefore, does not present the financial position or results of operations of the Authority.

Title: NOTE 03 - SUBRECIPIENTS Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the expenditures incurred (and related awards received) by the Northwest Regional Housing Authority (the Authority) that are reimbursable under federal programs of federal agencies providing financial assistance awards. For the purposes of this schedule, only the portion of program expenditures reimbursable with such federal funds are reported in the accompanying schedule. Program expenditures in excess of the maximum federal or state reimbursement authorized or the portion of the program expenditures that were funded with, state, local or other nonfederal funds are excluded from the accompanying schedule. The expenditures included in the accompanying schedule were reported on the 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 Schedule was prepared from only the accounts of the grant programs and, therefore, does not present the financial position or results of operations of the Authority De Minimis Rate Used: N Rate Explanation: The Authority did not elect to use the 10% de minimis indirect costs rate as allowed by Uniform Guidance. During the fiscal year ended December 31, 2024, the Authority disbursed no Federal funds to subrecipients.

Title: NOTE 04 - 10% DE MINIMIS INDIRECT COSTS RATE Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the expenditures incurred (and related awards received) by the Northwest Regional Housing Authority (the Authority) that are reimbursable under federal programs of federal agencies providing financial assistance awards. For the purposes of this schedule, only the portion of program expenditures reimbursable with such federal funds are reported in the accompanying schedule. Program expenditures in excess of the maximum federal or state reimbursement authorized or the portion of the program expenditures that were funded with, state, local or other nonfederal funds are excluded from the accompanying schedule. The expenditures included in the accompanying schedule were reported on the 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 Schedule was prepared from only the accounts of the grant programs and, therefore, does not present the financial position or results of operations of the Authority De Minimis Rate Used: N Rate Explanation: The Authority did not elect to use the 10% de minimis indirect costs rate as allowed by Uniform Guidance. The Authority did not elect to use the 10% de minimis indirect costs rate as allowed by Uniform Guidance.