Title: BASIS OF PRESENTATION
Accounting Policies: The accompanying schedule of expenditures of federal awards include the federal award activity of Miller Park, Inc., HUD Project No. 065-HD040-CA, under programs of the federal government of the year ended June 30, 2023. 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 Miller Park, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Miller Park, Inc. 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. Miller Park, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee only had direct costs related to their federal awards so the indirect cost rate did not apply.
The accompanying schedule of expenditures of federal awards include the federal award activity of Miller Park, Inc., HUD Project No. 065-HD040-CA, under programs of the federal government of the year ended June 30, 2023. 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 Miller Park, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Miller Park, Inc.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The accompanying schedule of expenditures of federal awards include the federal award activity of Miller Park, Inc., HUD Project No. 065-HD040-CA, under programs of the federal government of the year ended June 30, 2023. 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 Miller Park, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Miller Park, Inc. 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. Miller Park, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee only had direct costs related to their federal awards so the indirect cost rate did not apply.
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. Miller Park, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT CAPITAL ADVANCE
Accounting Policies: The accompanying schedule of expenditures of federal awards include the federal award activity of Miller Park, Inc., HUD Project No. 065-HD040-CA, under programs of the federal government of the year ended June 30, 2023. 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 Miller Park, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Miller Park, Inc. 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. Miller Park, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee only had direct costs related to their federal awards so the indirect cost rate did not apply.
See the Notes to the SEFA for chart/table.