Audit 42222

Accounting Policies: 1. Basis of PresentationThe accompanying schedule of expenditures of federal awards (the Schedule) includes the federalactivity of Kalamazoo Neighborhood Housing Services, Inc. and Subsidiaries under programs of thefederal government for the year ended December 31, 2022. The information in this Schedule ispresented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for FederalAwards (Uniform Guidance). Because the Schedule presents only a selected portion of the operationsof the Kalamazoo Neighborhood Housing Services, Inc., it is not intended to and does not present theconsolidated financial position, changes in net assets, or cash flows of the Kalamazoo NeighborhoodHousing Services, Inc.2. Summary of Significant Accounting PoliciesExpenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures 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. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.