Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying schedule of expenditures of federal awards and schedule of expenditures of state financial assistance (the Schedules) include the federal and state award activity of Youth and Family Alternatives, Inc. and its supporting organization, the Youth and Family Alternatives Foundation, Inc. (collectively, the Organization) and under programs of the federal government and State of Florida for the year ended June 30, 2022. The information in the Schedules is presented in accordance with the audit 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) and Chapter 10.650, Rules of the Auditor General of the State of Florida. Because the Schedules present only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.Pursuant to the Uniform Guidance, the Organization, as a sub-recipient of federal awards, has provided the name of the pass-through entity and the identifying description and number assigned by the pass-through entity when available from the pass-through entity. The Organization has provided the total federal awards expended for each individual federal program and the ALN number or other identifying information when the ALN information is not available. The Uniform Guidance does not require the Organization to provide this information, nor a breakdown of amounts awarded by ALN number if that information is not available from the awarding agency. Expenditures reported on the Schedules are reported on the accrual basis of accounting.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
HOME INVESTMENT PARTNERSHIPS PROGRAM (14.239) - Balances outstanding at the end of the audit period were 875000.
Title: Developer Agreement and Deferred Payment Mortgage
Accounting Policies: The accompanying schedule of expenditures of federal awards and schedule of expenditures of state financial assistance (the Schedules) include the federal and state award activity of Youth and Family Alternatives, Inc. and its supporting organization, the Youth and Family Alternatives Foundation, Inc. (collectively, the Organization) and under programs of the federal government and State of Florida for the year ended June 30, 2022. The information in the Schedules is presented in accordance with the audit 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) and Chapter 10.650, Rules of the Auditor General of the State of Florida. Because the Schedules present only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.Pursuant to the Uniform Guidance, the Organization, as a sub-recipient of federal awards, has provided the name of the pass-through entity and the identifying description and number assigned by the pass-through entity when available from the pass-through entity. The Organization has provided the total federal awards expended for each individual federal program and the ALN number or other identifying information when the ALN information is not available. The Uniform Guidance does not require the Organization to provide this information, nor a breakdown of amounts awarded by ALN number if that information is not available from the awarding agency. Expenditures reported on the Schedules are reported on the accrual basis of accounting.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
During the year ended June 30, 2018, the Organization entered into a developer agreement with Pasco County (the County) to assist the County in utilizing funds provided through the Neighborhood Stabilization Program, the Home Investments Partnership Program, and the State Housing Initiatives Partnership Program. Pursuant to the agreement, the Organization developed a six unit, eight-person supportive living facility in New Port Richey for developmentally disabled adults. The construction of the rental units was completed in August 2019. The agreement also includes the execution of a 50-year, $875,000 deferred mortgage and promissory note with the County, secured by the facility. The deferred mortgage and promissory note become payable if the Organization stops using the property as a rental property for the designated income level and persons with special needs or does not properly maintain the property during the 50-year period.