Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Charities Housing Development Corporation of Santa Clara County (a California nonprofit benefit corporation) (the "Organization") under programs of the federal government for the year ended December 31, 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.(1) Expenditures reported on the Schedule are reported on the accrual basis of accounting.(2) Expenditures of federal awards made on or after December 26, 2014 are recognized followingthe cost principles contained in the Uniform Guidance, wherein certain types of expenditures arenot allowable or are limited as to reimbursement.(3) Expenditures of federal awards made prior to December 26, 2014 are recognized following the cost principles contained in OMB Circular A-122, Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.(4) Expenditures reported on the Schedule include the value of new loans made or received during the audit period, loans acquired as a result of acquiring 100% control over tax credit limited partnership(s) during the audit period plus the beginning of the audit period balance of loans from previous years for which the federal government imposes continuing compliancerequirements.
De Minimis Rate Used: N
Rate Explanation: Charities Housing Development Corporation of Santa Clara County has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS (14.218) - Balances outstanding at the end of the audit period were 150000. COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS (14.218) - Balances outstanding at the end of the audit period were 123900. COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS (14.218) - Balances outstanding at the end of the audit period were 91196. COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS (14.218) - Balances outstanding at the end of the audit period were 72359. COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS (14.218) - Balances outstanding at the end of the audit period were 400000. COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS (14.218) - Balances outstanding at the end of the audit period were 406276. COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS (14.218) - Balances outstanding at the end of the audit period were 25000. COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS (14.218) - Balances outstanding at the end of the audit period were 100000. COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS (14.218) - Balances outstanding at the end of the audit period were 84392. COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS (14.218) - Balances outstanding at the end of the audit period were 370327. COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS (14.218) - Balances outstanding at the end of the audit period were 165000. COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS (14.218) - Balances outstanding at the end of the audit period were 126801. HOME INVESTMENT PARTNERSHIPS PROGRAM (14.239) - Balances outstanding at the end of the audit period were 384892. HOME INVESTMENT PARTNERSHIPS PROGRAM (14.239) - Balances outstanding at the end of the audit period were 90493. HOME INVESTMENT PARTNERSHIPS PROGRAM (14.239) - Balances outstanding at the end of the audit period were 60000. HOME INVESTMENT PARTNERSHIPS PROGRAM (14.239) - Balances outstanding at the end of the audit period were 115672. HOME INVESTMENT PARTNERSHIPS PROGRAM (14.239) - Balances outstanding at the end of the audit period were 118367. HOME INVESTMENT PARTNERSHIPS PROGRAM (14.239) - Balances outstanding at the end of the audit period were 131850. HOME INVESTMENT PARTNERSHIPS PROGRAM (14.239) - Balances outstanding at the end of the audit period were 452352. HOME INVESTMENT PARTNERSHIPS PROGRAM (14.239) - Balances outstanding at the end of the audit period were 69121. HOME INVESTMENT PARTNERSHIPS PROGRAM (14.239) - Balances outstanding at the end of the audit period were 153701.
Title: U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT LOAN PROGRAM
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Charities Housing Development Corporation of Santa Clara County (a California nonprofit benefit corporation) (the "Organization") under programs of the federal government for the year ended December 31, 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.(1) Expenditures reported on the Schedule are reported on the accrual basis of accounting.(2) Expenditures of federal awards made on or after December 26, 2014 are recognized followingthe cost principles contained in the Uniform Guidance, wherein certain types of expenditures arenot allowable or are limited as to reimbursement.(3) Expenditures of federal awards made prior to December 26, 2014 are recognized following the cost principles contained in OMB Circular A-122, Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.(4) Expenditures reported on the Schedule include the value of new loans made or received during the audit period, loans acquired as a result of acquiring 100% control over tax credit limited partnership(s) during the audit period plus the beginning of the audit period balance of loans from previous years for which the federal government imposes continuing compliancerequirements.
De Minimis Rate Used: N
Rate Explanation: Charities Housing Development Corporation of Santa Clara County has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The Organization has various U.S. Department of Housing and Urban Development loans. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. The Organization received no new loans during the year.The balance of the loans outstanding at December 31, 2022 consisted of the following:Assistance Listing Number Program Name Balance, December 31, 2022 14.218 Community Development Block Grants/Entitlement Grants $ 2,115,25114.239 HOME Investment Partnerships Program 1,576,448 TOTAL: $ 3,691,699