Audit 38012

Accounting Policies: Scope of PresentationThe accompanying schedule presents the expenditures incurred (and related awards received) by theNeighborhood Nonprofit Housing Corporation (NNHC) that are reimbursable under federal programs offederal agencies providing financial assistance and state awards. For the purposes of this schedule, onlythe portion of program expenditures reimbursable with such federal or state funds is reported in theaccompanying schedule. Program expenditures in excess of the maximum federal or state reimbursementauthorized or the portion of the program expenditures that were funded with local or other nonfederalfunds are excluded from the accompanying schedule.Basis of AccountingThe expenditures included in the accompanying schedule were reported on an 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 federalprogram.SubRecipientsDuring the fiscal year ended June 30, 2022, the Authority made no payments to sub recipients.Indirect Cost RateThe Authority has elected to use the 10% de minimis indirect cost rate as allowed in the UniformGuidance, Section 414.Neighborhood Nonprofit Housing Corporation De Minimis Rate Used: Y Rate Explanation: The auditee used the de minimis cost rate.