Notes to SEFA
Title: Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized, as applicable, 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: N/A
Communities Unlimited Inc. does not have any subrecipients or subrecipient expenses.
Title: Loan Balances
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized, as applicable, 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: N/A
Loans outstanding at the beginning of the year plus any new loans received during the fiscal year are reported as federal expenses in the Schedule. The balance of loans outstanding at September 30, 2023 consists of:
Intermediary Relending Program $987,654 AL #10.767
SBA Microloan Program 726,452 AL #59.046
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized, as applicable, 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: N/A
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Communities Unlimited, Inc. under programs of the federal government for the year ended September 30, 2023. 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 Communities Unlimited, Inc., it is not intended to and does not present the financial position, changes in net assets or cash flows of Communities Unlimited, Inc.