Title: Note D - U.S. Department of Housing and Urban Development Loan Program:
Accounting Policies: Note A - Basis of Presentation:
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Clearbrook under programs of the federal government for the year ended
June 30, 2023. The information in the 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 (the “Uniform Guidance”). Because the Schedule presents only a selected portion of the operations of the Clearbrook, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Clearbrook.
Note B - Summary of Significant Accounting Policies:
Expenditures reported in the Schedule are reported on the accrual basis of accounting. 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. Passthrough entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: Clearbrook has elected to use the 10 percent de minimis indirect cost rate to recover indirect costs, as allowed under the Uniform Guidance.
Loans outstanding at the beginning of the year and loans made during the year are included in the federal expenditures presented in the schedule of expenditures of federal awards. The balances of loans outstanding at June 30, 2023 consist of the following:
Cluster/Program Title Assistance Listing Number Loan Balances
Home Investment Partnerships Program 14.239 $ 63,768
Home Investment Partnerships Program 14.239 152,427
Home Investment Partnerships Program 14.239 171,317
Home Investment Partnerships Program 14.239 183,202
Home Investment Partnerships Program 14.239 209,480
Home Investment Partnerships Program 14.239 215,289
Section 202 Direct Loans for Supporting
Housing for the Elderly 14.157 362,588
Section 202 Direct Loans for Supporting
Housing for the Elderly 14.157 452,244
Total $ 1,810,315
Title: Note E - Noncash Assistance:
Accounting Policies: Note A - Basis of Presentation:
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Clearbrook under programs of the federal government for the year ended
June 30, 2023. The information in the 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 (the “Uniform Guidance”). Because the Schedule presents only a selected portion of the operations of the Clearbrook, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Clearbrook.
Note B - Summary of Significant Accounting Policies:
Expenditures reported in the Schedule are reported on the accrual basis of accounting. 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. Passthrough entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: Clearbrook has elected to use the 10 percent de minimis indirect cost rate to recover indirect costs, as allowed under the Uniform Guidance.
None of the federal awards were expended in the form of noncash assistance, including federal insurances.