Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying Consolidated Schedule of Expenditures of Federal Awards (Schedule) includes the federal award activity of Home of Guiding Hands Corporation and Affiliates (collectively, the Organization) 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 (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 the Organization, it is not intended to and does not present the consolidated financial position, changes in net assets or cash flows of the Organization. The Schedule includes loans granted under Supportive Housing for Persons with Disabilities as expenditures of federal awards. 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES (14.181) - Balances outstanding at the end of the audit period were 1037000. The capital advance loans are draws made by Anja House and Aquilla House to purchase property under capital advance agreements with the U.S. Department of Housing and Urban Development (HUD). The loans bear no interest and are not required to be repaid as long as the houses remain available for low income persons with disabilities for a period of 40 years.
Title: Provider Relief Fund
Accounting Policies: The accompanying Consolidated Schedule of Expenditures of Federal Awards (Schedule) includes the federal award activity of Home of Guiding Hands Corporation and Affiliates (collectively, the Organization) 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 (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 the Organization, it is not intended to and does not present the consolidated financial position, changes in net assets or cash flows of the Organization. The Schedule includes loans granted under Supportive Housing for Persons with Disabilities as expenditures of federal awards. 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The United States Department of Health and Human Services (HHS) has indicated the Provider Relief Fund (PRF) funds on the Schedule be reported corresponding to reporting requirements of the Health Resources and Services Administration (HRSA) PRF Reporting Portal (the Portal). Payments from HHS for PRF are assigned to Payment Received Periods (each, a Period) based upon the date each payment from the PRF was received. Each Period has a specified Period of Availability and timing of reporting requirements. Entities report into the Portal after each Periods deadline to use the funds (i.e., after the end of the Period of Availability). The Schedule includes $469,800 of PRF funds received from HHS between July 1, 2020 through December 31, 2020. In accordance with guidance from HHS, these amounts are presented as Period 2. The amount presented on the Schedule for the year ended June 30, 2022 was recognized as other income on the Organizations consolidated financial statements for the year ended June 30, 2021.