Audit 524

Title: Subrecipients Accounting Policies: (1) Basis of Presentation The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of the Lafayette Habitat for Humanity, Inc. (Organization) under programs of the federal government for the year ended June 30, 2023. The information presented 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 Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization. (2) Summary of Significant Accounting Policies 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. The Lafayette Habitat for Humanity, Inc. has elected not to use the 10 percent de minimus indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The Lafayette Habitat for Humanity, Inc. has elected not to use the 10 percent de minimus indirect cost rate allowed under the Uniform Guidance. The Organization provided no federal awards to subrecipients.