Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (the schedule) includes the federal grant activityof The Village at Oasis Park Phase I, Inc. (the Organization), HUD Project No. 123HD042, under programs of thefederal government for the year ended September 30, 2022. The information is presented in accordance withthe requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements,Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presentsonly a selected portion of the operations of the Organization, it is not intended to and does not present thefinancial position, changes in net assets or cash flows of the Organization. The Organization received federalawards directly from federal agencies.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.