Title: Note 5 - Loan Programs with Continuing Compliance Requirements
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal award activity of
the City under programs of the federal government for the year ended June 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 (the “Uniform Guidance”).
Because the Schedule presents only a selected portion of the operations of City, it is not intended to and does not present
the financial position of the City. 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. Negative amounts shown on the Schedule represent adjustments or credits made in
the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The following loan program balances and transactions relating to these programs are included in the City’s basic financial
statements. The balance of loans outstanding as of June 30, 2023 consist of the following: 14.218 Community Development Block Grants / Entitlement Grants B-08-MN-060011 $ 1,017,898 B-22-MC-060035 1,979,478 Total Community Development Block Grants / Entitlement Grants 2,997,376; 14.239 HOME Investment Partnership Program M-17-MC-060230 12,776,068 Total HOME Investment Partnership Program 12,776,968 Total $ 15,773,444
Title: Note 6 - Subrecipients
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal award activity of
the City under programs of the federal government for the year ended June 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 (the “Uniform Guidance”).
Because the Schedule presents only a selected portion of the operations of City, it is not intended to and does not present
the financial position of the City. 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. Negative amounts shown on the Schedule represent adjustments or credits made in
the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The City provided federal funds to the following recipients: 14.218 Community Development Block Grants / Entitlement Grants
Community Services Employment & Training $ 760,669
Self-Help Enterprises - COVID Rental Assistance 182,944
Family Services Voucher Program 45,000
Self-Help Enterprises 41,412
Kings View 34,983
Habitat for Humanity 29,925
Continuum of Care 16,028
Neighborhood Stabilization Program
Habitat for Humanity 1,875
Total Community Development Block Grants / Entitlement Grants 1,112,836
14.239 HOME Investment Partnership Program
Mooney Sequoia LP - Sequoia Village Project 1,069,101
Self-Help Enterprises - The Lofts 567,789
Family Services - Tenant Based Rental Assistance 5,423
Total HOME Investment Partnership Program 1,642,313
20.507 Federal Transit Formula Grants
City of Tulare 485,034
Total Federal Transit Formula Grants 485,034
Total Amount Provided to Subrecipients $ 3,240,183