Notes to SEFA
Title: Loans Outstanding
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Abode Services (the "Organization") 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 (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 limited as to reimbursement. Passthrough entity identifying numbers are presented where available and applicable.
De Minimis Rate Used: N
Rate Explanation: The Organization has not used the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The indirect cost rates have been negotiated individually with each pass-through funding source.
he Organization had the following loan balances outstanding at June 30, 2023. The loan balances are included in the schedule of expenditures of federal awards.
Program or Cluster Title
Federal AL
Number
Balance
Outstanding
Home Investment Partnership Program 14.239 $ 1,117,000
Community Development Block Grants 14.218 286,000
Continuum of Care Program 14.267 178,363
Emergency Solutions Grant Program 14.231 32,000
$ 1,613,363