Audit 365981

Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of AHC, Inc. DBA Affordable Homes & Communities and its Affiliates and Subsidiaries under programs of the federal government for the year ended December 31, 2024. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. The financial statements of certain subsidiaries and affiliates included in the consolidated and combined financial statements were not audited in accordance with Government Auditing Standards and are not subject to the requirements of the Uniform Guidance as discussed in Note 30 to the consolidated and combined financial statements. Because the Schedule presents only a selected portion of the operations of AHC, Inc. DBA Affordable Homes & Communities and its Affiliates and Subsidiaries, it is not intended to and does not present the financial position, changes in net assets or cash flows of AHC, Inc. DBA Affordable Homes & Communities and its Affiliates and Subsidiaries. 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Passthrough entity identifying numbers are presented where applicable. The Organization has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. Loan balances at the beginning of the year and loans made during the year are included in the federal expenditures presented in the Schedule. De Minimis Rate Used: N Rate Explanation: The Organization has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.