Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the expenditures of Jamboree Housing Corporation (a California non-profit public benefit corporation) and Subsidiaries (collectively, the Corporation) under programs of the federal government for the year ended December 31, 2022. The information in the Schedule is presented in accordance with the requirements of Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards. Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of the basic consolidated financial statements. For purposes of the Schedule, federal awards include all sub awards to the Corporation by nonfederal organizations pursuant to federal grants, contracts, and similar agreements. Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards and OMB Circular A-122, Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowed. Assistance Listing numbers (AL No.) are provided when available.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The following represents the amount of outstanding loans identified by CFDA No. All loans are provided by HUD and are included in the Schedule. CFDA No. 14.218 - Prior year loans with continuing compliance requirements - $1,140,710 - Total outstanding loans - $5,441,515. CFDA No. 14.239 - HOME Investment Partnerships Program - Prior year loans with continuing compliance requirements - $43,014,586 - Total outstanding loans - $47,747,883
Title: Pass-through awards to subrecipients
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the expenditures of Jamboree Housing Corporation (a California non-profit public benefit corporation) and Subsidiaries (collectively, the Corporation) under programs of the federal government for the year ended December 31, 2022. The information in the Schedule is presented in accordance with the requirements of Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards. Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of the basic consolidated financial statements. For purposes of the Schedule, federal awards include all sub awards to the Corporation by nonfederal organizations pursuant to federal grants, contracts, and similar agreements. Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards and OMB Circular A-122, Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowed. Assistance Listing numbers (AL No.) are provided when available.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Included in the Schedule are the following amounts passed through to subrecipients: 14.218-Community Development Block Grants-Amount Provided to Subrecipients-$5,024,337. 14.239-HOME Investment Partnerships Program-Amount Provided to Subrecipients-$45,287,273.