Notes to SEFA
Title: NOTE CSUBRECIPIENTS
Accounting Policies: NOTE ABASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards include the federal grant activity of The Homeless Alliance, Inc. (the Alliance), under programs of the federal government for the year ended June 30, 2022. The information in the schedule of expenditures of federal awards is presented in accordance with the requirement 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 the Alliance, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Alliance. NOTE BSUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the schedules of federal expenditures are reported on the modified 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. The Alliance allocates certain indirect expenses to its programs based on management estimates and the determination of the percentage of effort expended by employees and other statistical factors. In this manner, the Alliance has elected not to use the 10 percent de minimis indirect cost rate, which is allowed in accordance with the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
During the year ended June 30, 2022, the Alliance did not provide federal awards to subrecipients.
Title: NOTE DOUTSTANDING FEDERAL LOANS
Accounting Policies: NOTE ABASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards include the federal grant activity of The Homeless Alliance, Inc. (the Alliance), under programs of the federal government for the year ended June 30, 2022. The information in the schedule of expenditures of federal awards is presented in accordance with the requirement 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 the Alliance, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Alliance. NOTE BSUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the schedules of federal expenditures are reported on the modified 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. The Alliance allocates certain indirect expenses to its programs based on management estimates and the determination of the percentage of effort expended by employees and other statistical factors. In this manner, the Alliance has elected not to use the 10 percent de minimis indirect cost rate, which is allowed in accordance with the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
As of June 30, 2022, the Alliance has outstanding federal loan obligations of $149,412 under the Community Development Block Grant and $670,000 under the HOME Investment Partnerships Program. These amounts on the schedule of expenditures of federal awards include cumulative, outstanding loan proceeds as of June 30, 2022. Both loans are forgivable based on the Alliances continued compliance with specified grant requirements.