Notes to SEFA
Title: Loan Programs
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of United Social and Mental Health Services, Inc. & Subsidiaries (the "Organization") 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 Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization. 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. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The following is a summary of the loan program activity for the year ended June 30, 2022:United States Department of AgricultureCommunity Facilities Loans and Grants (Federal Assistance Listing Number 10.766) Issue date: 11/25/2008; Interest Rate: 4.25%; Original Amount: $1,000,000; Balance, beginning of year: $843,257; Paid during fiscal year: (16,511); Balance, end of year: $826,746; Issue date: 12/12/2019; Interest Rate: 2.75%; Original Amount: $9,143,437; Balance, beginning of year: $8,950,705; Paid during fiscal year: (132,941); Balance, end of year: $8,817,764