Audit 45263

Title: Loan Outstanding and Loan Guarantees Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Oxbow Senior Independence Program, Inc. (the Organization) under programs of the federal government for the year ended December 31, 2022. The information in the Schedule is presented in accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to, and does not, present the financial position, changes in net assets or cash flows of the Organization. De Minimis Rate Used: N Rate Explanation: 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. Pass-through entity identifying numbers are presented where available. The Organization has elected not to use the 10% de minimis indirect cost rate. The outstanding Rural Rental Housing Loans loan balance amounted to $1,203,923 as of December 31, 2022. The loan proceeds were used in prior years.