Audit 50638

Title: Subrecipients Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Habitat for Humanity of Colorado, Inc. (the "Organization") under programs of the federal government for the year ended June 30, 2022. The information in this Schedule is presented in accordance with requirements of the 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 the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization. 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. See Note 1 of the financial statements for summary of significant policies. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. During the year ended June 30, 2022, the Organization passed through federal grant awards in the amount of $922,250 to subrecipients.