Audit 685

Title: BASIS OF PRESENTATION 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. 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. Park Place RHF Housing has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. Such expenditures are recognized following, as applicable, either the cost principles in OMB Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: Park Place RHF Housing has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Park Place RHF Housing under programs of the federal government for the year ended December 31, 2022. The information in this Schedule is presented in accordance with the requirements of 2 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 Park Place RHF Housing, it is not intended to and does not present the financial position, changes in net deficit, or cash flows of Park Place RHF Housing.

Title: RECONCILIATION OF SEFA TO FINANCIAL STATEMENTS 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. 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. Park Place RHF Housing has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. Such expenditures are recognized following, as applicable, either the cost principles in OMB Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: Park Place RHF Housing has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. The financial statements reflect revenue recognized from the Provider Relief Fund of approximately $-0- and $10,165 for the years ended 2022 and 2021, respectively. The SEFA includes Provider Relief Funds of $10,165 that were received in Period 3 and Period 4 in accordance with the requirements of the compliance supplement for Federal Assistance Listing number 93.498.