Audit 363433

Accounting Policies: 1. Basis of presentation The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the expenditures on an accrual basis of Urban Housing Solutions, Inc. and Subsidiaries 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 Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards. Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of the basic consolidated financial statements. For purposes of the Schedule, federal awards include all sub awards to the Corporation by nonfederal organizations pursuant to federal grants, contracts, and similar agreements. 2. Summary of significant accounting policies Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowed. Assistance Listing numbers (“AL No.”) are provided when available. De Minimis Rate Used: N Rate Explanation: Expenses that can be directly attributed to a particular function are charged to that function. Certain costs have been allocated among more than one program or activity benefited based on number of apartment units within each program.