Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures
are recognized following, as applicable, either the cost principles contained in OMB (“Office of Management
and Budget”) 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: Boys & Girls Clubs of the Valley, Inc. has elected not to use the 10-percent
de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal
award activity of Boys & Girls Clubs of the Valley, Inc. under programs of the federal government for the
year ended June 30, 2022. 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 Boys & Girls Clubs of the Valley, Inc., it is not
intended to and does not present the consolidated financial position, change in net assets or cash flows of
Boys & Girls Clubs of the Valley, Inc. Boys & Girls Clubs of the Valley, Inc. did not provide federal
awards to sub-recipients during the year ended June 30, 2022.
Title: Loans Outstanding
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures
are recognized following, as applicable, either the cost principles contained in OMB (“Office of Management
and Budget”) 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: Boys & Girls Clubs of the Valley, Inc. has elected not to use the 10-percent
de minimis indirect cost rate allowed under the Uniform Guidance.
Boys & Girls Clubs of the Valley, Inc. has loans outstanding for various maintenance and improvement
projects at branch locations which are funded through Community Development Block Grants. Loans
outstanding at the beginning of the year, as well as new loans established during the year ended June 30,
2022, are included in the federal expenditures presented in the accompanying schedule of expenditures of
federal awards. The balance of loans outstanding at June 30, 2022 consists of:
Federal Grantor/Program/Pass-Through Agency Federal CFDA Number Pass-Through Number Federal Expenditures U.S. Department of Housing and Urban Development Passed through the City of Phoenix Community Development Block Grant/Entitlement Grants 14.218 City of Phoenix 144193 $42,000 City of Phoenix 141741 28,560 City of Phoenix 139791-0 18,311 City of Phoenix 136847-0 36,000 City of Phoenix 132809 24,349 City of Phoenix 148940-0 75,000 City of Phoenix 152009-0 98,671 Total loans outstanding $322,891