Title: Note 2: Basis of Accounting
Accounting Policies: The accompanying shedule of expenditures of federal awards ("the Schedule") includes the federal activity of Jo Daviess Residential Services, Inc. under programs of the federal government for the year ended 30, 2022. The information in this schedule is presented in accordance with requirement of the 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 Jo Davies Residentials Services, Inc., it is not intended to and does not present the financial positon, changes in net assets or cash flows of Jo Daviess Residential Services, Inc.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
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. Pass-through entity identifying numbers are presented where available. The Organization has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Note 3: Loan and Loan Guarantees
Accounting Policies: The accompanying shedule of expenditures of federal awards ("the Schedule") includes the federal activity of Jo Daviess Residential Services, Inc. under programs of the federal government for the year ended 30, 2022. The information in this schedule is presented in accordance with requirement of the 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 Jo Davies Residentials Services, Inc., it is not intended to and does not present the financial positon, changes in net assets or cash flows of Jo Daviess Residential Services, Inc.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The mortgage note in the amount of $972,322 is payable to the U.S. Department of Housing and Urban Development in the event the building is not used as defined in the HUD regulatory agreement. More information is provided in the notes to the financials statements.
Title: Note 4: Sub-Recipients
Accounting Policies: The accompanying shedule of expenditures of federal awards ("the Schedule") includes the federal activity of Jo Daviess Residential Services, Inc. under programs of the federal government for the year ended 30, 2022. The information in this schedule is presented in accordance with requirement of the 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 Jo Davies Residentials Services, Inc., it is not intended to and does not present the financial positon, changes in net assets or cash flows of Jo Daviess Residential Services, Inc.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Jo Daviess Residential Services, Inc. does not have any sub-recipients of federeal or state awares.
Title: Note 5: Insurance Coverage
Accounting Policies: The accompanying shedule of expenditures of federal awards ("the Schedule") includes the federal activity of Jo Daviess Residential Services, Inc. under programs of the federal government for the year ended 30, 2022. The information in this schedule is presented in accordance with requirement of the 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 Jo Davies Residentials Services, Inc., it is not intended to and does not present the financial positon, changes in net assets or cash flows of Jo Daviess Residential Services, Inc.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Organization did not receive any issurance assistance.