Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: 1.BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards (SEFA) includes the federal award activity of Good Shepherd Housing and Family Services, Inc. (the Organization), under the programs of the federal government for the year ended June 30, 2022. The information in the SEFA 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 SEFA presents 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.2.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the SEFA are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization records its expenditures of federal awards using a direct cost methodology, and therefore does not record indirect costs for its federal award programs. In this manner, the Organization has elected not to use the 10% de minimis indirect cost rate, which is allowed in accordance with the Uniform Guidance.
COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS (14.218) - Balances outstanding at the end of the audit period were 5371113. COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS (14.218) - Balances outstanding at the end of the audit period were 397660. COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS (14.218) - Balances outstanding at the end of the audit period were 468000. HOME INVESTMENT PARTNERSHIPS PROGRAM (14.239) - Balances outstanding at the end of the audit period were 2748238. HOME INVESTMENT PARTNERSHIPS PROGRAM (14.239) - Balances outstanding at the end of the audit period were 553400.
Title: SUBRECIPIENTS
Accounting Policies: 1.BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards (SEFA) includes the federal award activity of Good Shepherd Housing and Family Services, Inc. (the Organization), under the programs of the federal government for the year ended June 30, 2022. The information in the SEFA 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 SEFA presents 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.2.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the SEFA are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization records its expenditures of federal awards using a direct cost methodology, and therefore does not record indirect costs for its federal award programs. In this manner, the Organization has elected not to use the 10% de minimis indirect cost rate, which is allowed in accordance with the Uniform Guidance.
Of the federal expenditures presented in the accompanying schedule of expenditures of federal awards, no amounts were provided to subrecipients for the year ended June 30, 2022.