Audit 6253

Title: – Basis of Presentation Accounting Policies: Expenditures included on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles of Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: River’s Edge Property, Inc. has elected not to use the 10% de minimis indirect cost rate as allowed under Uniform Guidance. The accompanying Schedule of Expenditures of Federal Awards (the ‘Schedule’) includes the federal award activity of River’s Edge Property, Inc. for 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 operation of the River’s Edge Property, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of River’s Edge Property, Inc.