Title: NOTE 1: 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. Passthrough entity identifying numbers are presented when available.
De Minimis Rate Used: N
Rate Explanation: The cdcb has elected not to use the 10% de‐minimus indirect cost rate allowed under the Uniform Guidance for the federal programs.
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity for cdcb under programs of the federal government for the year ended September 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, Costs Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). Because the Schedule presents only a selected portion of the operations of cdcb, it is not intended to, and does not, present the financial position, changes in net assets, or cash flows of cdcb.
Title: NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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. Passthrough entity identifying numbers are presented when available.
De Minimis Rate Used: N
Rate Explanation: The cdcb has elected not to use the 10% de‐minimus indirect cost rate allowed under the Uniform Guidance for the federal programs.
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. Passthrough
entity identifying numbers are presented when available.
Title: NOTE 3: INDIRECT COST RATE
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. Passthrough entity identifying numbers are presented when available.
De Minimis Rate Used: N
Rate Explanation: The cdcb has elected not to use the 10% de‐minimus indirect cost rate allowed under the Uniform Guidance for the federal programs.
The cdcb has elected not to use the 10% de‐minimus indirect cost rate allowed under the Uniform Guidance for the federal programs.
Title: NOTE 4: REVOLVING LOAN PROGRAM
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. Passthrough entity identifying numbers are presented when available.
De Minimis Rate Used: N
Rate Explanation: The cdcb has elected not to use the 10% de‐minimus indirect cost rate allowed under the Uniform Guidance for the federal programs.
The cdcb operates a revolving loan program. The Community Development Block Grant revolving loan program was used to fund minor repairs for homes of low‐income families living in colonia areas.
The balance of loans outstanding at September 30, 2023 consists of the following:
Community Development Block Grant - 14.228 - $11,363
Only the value of the new loans are included in the federal expenditures presented in the Schedule. As of September 30, 2023, there were no new loans. The loans outstanding are only required to be paid back and are not subject to any other continuing compliance requirements.
Title: NOTE 5: SUBRECIPIENTS
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. Passthrough entity identifying numbers are presented when available.
De Minimis Rate Used: N
Rate Explanation: The cdcb has elected not to use the 10% de‐minimus indirect cost rate allowed under the Uniform Guidance for the federal programs.
During the year ended September 30, 2023, cdcb had no subrecipients.
Title: NOTE 6: NON‐CASH ASSISTANCE, FEDERAL LOANS AND LOAN GUARANTEES, AND FEDERALLY
FUNDED INSURANCE
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. Passthrough entity identifying numbers are presented when available.
De Minimis Rate Used: N
Rate Explanation: The cdcb has elected not to use the 10% de‐minimus indirect cost rate allowed under the Uniform Guidance for the federal programs.
During the year ended September 30, 2023, cdcb did not receive any non‐cash assistance, federal loans and loan guarantees, and federally funded insurance.
Title: NOTE 7: PROGRAM REPORTING
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. Passthrough entity identifying numbers are presented when available.
De Minimis Rate Used: N
Rate Explanation: The cdcb has elected not to use the 10% de‐minimus indirect cost rate allowed under the Uniform Guidance for the federal programs.
Home development costs of the Home Investment Partnership program of $246,327 are accounted for as investment in homes on the consolidated balance sheet. The expenditures on the Schedule are not reported in the financial statements until the homes are closed and transferred to the homeowner.
Title: NOTE 8: PRIOR YEAR EXPENDITURES
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. Passthrough entity identifying numbers are presented when available.
De Minimis Rate Used: N
Rate Explanation: The cdcb has elected not to use the 10% de‐minimus indirect cost rate allowed under the Uniform Guidance for the federal programs.
The following are prior year expenditures listed on the Schedule of Expenditures of Federal Awards:
Home Investment Partnership Program - 1003030 - $23,520
Home Investment Partnership Program - 1003031 - $54,641