Audit 51922

Accounting Policies: Basis of Presentation The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Ridgeview Village, Inc., HUD Project No. 084-EE023 (the Project), under programs of the federal government as of and for the year ended December 31, 2022. The information in this Schedule is presented in accordance with the 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 presents only a selected portion of the operations of the Project, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Project.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 limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where applicable.The Project includes a Section 202 Capital Advance received in a prior year in the schedule of expenditures of federal awards. The Capital Advance will be converted to a loan if the low-income housing rental requirements are not met for forty years. De Minimis Rate Used: Y Rate Explanation: Indirect Cost Rate Ridgeview Village, Inc. has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.