Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: NOTE A: Basis of PresentationThe accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Four Bands Community Fund, Inc., 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 Four Bands Community Fund, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Four Bands Community Fund, Inc.NOTE B: Summary of Significant Accounting PoliciesExpenditures 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
NOTE E: IHP Revolving Loan FundAt December 31, 2022, Four Bands has an outstanding note payable balance related to the IHP Revolving Loan Fund of $799,701.
Title: Subrecipients
Accounting Policies: NOTE A: Basis of PresentationThe accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Four Bands Community Fund, Inc., 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 Four Bands Community Fund, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Four Bands Community Fund, Inc.NOTE B: Summary of Significant Accounting PoliciesExpenditures 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Organization had no subrecipients in 2022.