Audit 28024

Title: Loan/loan guarantee outstanding balances Accounting Policies: This summary of significant accounting policies of Opportunity Center for the Homeless, is presented to assist in understanding Opportunity Center for the Homeless Schedule of Expenditures of Federal Awards. The Schedule and notes are representations of Opportunity Center for the Homeless management, who is responsible for their integrity and objectivity. The Schedule of Expenditures of Federal Awards does not include the expenditures of federal awards of Myrtle or La Plaza. Both Myrtle and La Plaza obtained separate audits in accordance with the requirements of the Uniform Guidance and separate data collection forms for each entity have been submitted to the Federal Clearinghouse as required. The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Opportunity Center for the Homeless (a nonprofit organization) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic consolidated financial statements. There were no subrecipients of Federal Awards received by Opportunity Center for the Homeless for the year ended December 31, 2022. De Minimis Rate Used: Y Rate Explanation: Opportunity Center for the Homeless has elected to use the de minimis rate of 10% of modified total direct cost as an indirect cost allocation factor, as allowed under 2C.F.R. ?200.414. COMMUNITY DEVELOPMENT BLOCK GRANT CHDO HOME (14.239) - Balances outstanding at the end of the audit period were $168,200. COMMUNITY DEVELOPMENT BLOCK GRANT CHDO HOME (14.239) - Balances outstanding at the end of the audit period were $267,272. HOME INVESTMENT PARTNERSHIP (14.239) - Balances outstanding at the end of the audit period were $49,515. HOME INVESTMENT PARTNERSHIP (14.239) - Balances outstanding at the end of the audit period were $12,208. COMMUNITY DEVELOPMENT BLOCK GRANT: COMMUNITY DEVELOPMENT INVESTOR - OWNED LOAN (14.218) - Balances outstanding at the end of the audit period were $0(paid off). COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS (14.218) - Balances outstanding at the end of the audit period were $370,626.