Notes to SEFA
Title: SUBRECIPIENTS
Accounting Policies: The accompanying Schedule of Expenditures of Federal and State Awards and List of Programs (the Schedule) includes the federal award activity of The Resource Connection of Amador and Calaveras Counties, Inc. under programs of the federal government for the year ended June 30, 2022. The information in this Schedule is presented in accordance with the 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). Because the Schedule presents only a selected portion of the operations of The Resource Connection of Amador and Calaveras Counties, Inc., it is not intended to and does not present the financial position, changes in net assets or cash flows of The Resource Connection of Amador and Calaveras Counties, Inc.Expenditures reported on the Schedule are reported on the 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Resource Connection of Amador and Calaveras Counties, Inc. does not have any subrecipients and therefore has not incurred subrecipient expenditures.
Title: FEDERAL LOANS PAYABLE
Accounting Policies: The accompanying Schedule of Expenditures of Federal and State Awards and List of Programs (the Schedule) includes the federal award activity of The Resource Connection of Amador and Calaveras Counties, Inc. under programs of the federal government for the year ended June 30, 2022. The information in this Schedule is presented in accordance with the 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). Because the Schedule presents only a selected portion of the operations of The Resource Connection of Amador and Calaveras Counties, Inc., it is not intended to and does not present the financial position, changes in net assets or cash flows of The Resource Connection of Amador and Calaveras Counties, Inc.Expenditures reported on the Schedule are reported on the 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Federal expenditures for the U.S. Department Agriculture ("USDA") Community Facilities Loans and Grants Cluster program includes the balance of a loan outstanding. This particular loan was funded by a grant from USDA who passed through these funds in the form of a low-interest loan and for which the grantor imposes continuing compliance requirements. Total principal on this loan was $1,360,000 which was used to finance the food bank building for The Resource Connection of Amador and Calaveras Counties, Inc. Annual payments of principal and interest of $72,597 are due on this loan. Balance at July 1, 2021, $1,115,057, Repayments - Principal (23,801), Balance at June 30, 2022 $1,091,256.