Audit 37893

Title: Loan/loan guarantee outstanding balances Accounting Policies: NOTE 1 BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards include the federal grant activity of Vintage Park Cooperative of Beaverdale HUD Project No. 074-23031 for the year ended December 31, 2022. The information in this schedule is presented in accordance with the requirements of Title 2 U.S Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of Vintage Park Cooperative of Beaverdale, it is not intended to and does not present the financial positions, activities, or cash flows of Vintage Park Cooperative of Beaverdale. NOTE 2 SUMMARY OF SIGNIFICANT 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 allowed or are limited as to reimbursement, when applicable. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. MORTGAGE INSURANCE_COOPERATIVE PROJECTS (14.126) - Balances outstanding at the end of the audit period were 7527954.