Notes to SEFA
Title: Loans Outstanding
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the Federal assistance activity of the Agency and is presented on the accrual basis of accounting. 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. Since DB Owner, LLC is a single-member LLC, with DBEDC as its sole member, Federal funds of DB Owner, LLC are subject to Uniform Guidance and are included in the accompanying Schedule of Expenditures of Federal Awards.The Agency's consolidating financial statements include the operations of certain Rental Properties (see pages 21 through 23) which are not included in the accompanying Schedule of Expenditures of Federal Awards during 2022, since the component entities are not subject to the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
See the Notes to SEFA for table.
Title: NeighborWorks? America Funds
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the Federal assistance activity of the Agency and is presented on the accrual basis of accounting. 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. Since DB Owner, LLC is a single-member LLC, with DBEDC as its sole member, Federal funds of DB Owner, LLC are subject to Uniform Guidance and are included in the accompanying Schedule of Expenditures of Federal Awards.The Agency's consolidating financial statements include the operations of certain Rental Properties (see pages 21 through 23) which are not included in the accompanying Schedule of Expenditures of Federal Awards during 2022, since the component entities are not subject to the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
NeighborWorks? America (NW) requires all subrecipients to use AL No. 21.000 for certain NW funds.