Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principals contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform
Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types
of expenditures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on the
Schedule represent adjustments or credits made in the normal course of business to amounts reported as
expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The
Organization has elected not to use the 10% de minimis indirect cost rate as allowed under uniform guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award
activity of Alliance for Housing Oakland County Continuum of Care 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 Alliance for Housing Oakland County Continuum of Care, it is not intended
to and does not present the financial position, changes in net assets or cash flows of Alliance for Housing Oakland
County Continuum of Care.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principals contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform
Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types
of expenditures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on the
Schedule represent adjustments or credits made in the normal course of business to amounts reported as
expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The
Organization has elected not to use the 10% de minimis indirect cost rate as allowed under uniform guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principals contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform
Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types
of expenditures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on the
Schedule represent adjustments or credits made in the normal course of business to amounts reported as
expenditures in prior years. Pass-through entity identifying numbers are presented where available. The
Organization has elected not to use the 10% de minimis indirect cost rate as allowed under uniform guidance.
Title: RECONCILIATION WITH AUDITED FINANCIAL STATEMENTS
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principals contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform
Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types
of expenditures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on the
Schedule represent adjustments or credits made in the normal course of business to amounts reported as
expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The
Organization has elected not to use the 10% de minimis indirect cost rate as allowed under uniform guidance.
The following summary reconciles total federal awards with the audited financial statements for the year ended
September 30, 2023:
Total federal expenses per the schedule of expenditures of federal awards $ 5,626,788
Add non-federal grants included in the audited financial statements 204,108
Total grant revenue per the audited financial statements $ 5,830,896
Title: ADJUSTMENTS
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principals contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform
Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types
of expenditures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on the
Schedule represent adjustments or credits made in the normal course of business to amounts reported as
expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The
Organization has elected not to use the 10% de minimis indirect cost rate as allowed under uniform guidance.
An adjustment of $4,646 was made to ALN 21.023 due to funds returned to MSHDA.