Title: Basis of Presentation of the Schedule of Expenditures of Federal Awards (the Schedule)
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal
award activity of Aster, Inc. under programs of the federal government for the year ended
December 31, 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 Aster, Inc., it is not
intended to and does not present the financial position, changes in net assets, functional expenses,
or cash flows of Aster, Inc. All identified federal source funding received by Aster, Inc. is included in
the Schedule. All federal awards are identified by the Assistance Listing (AL) number.
Except as indicated otherwise, the following basis of presentation applies to all activity reported in
the Schedule. Expenditures are reported on the accrual basis after all year end audit adjustments.
Expenditures are reported up to the amount of the grant award. Expenditures in a program which
are not covered by the federal award are not included. Determination of the amount of federal
awards expended for the Section 202 Capital Advance program is based on the December 31,
2023 balance of capital advances granted in current and prior years. The balance of the capital
advance at December 31, 2023 was $5,166,900.
De Minimis Rate Used: Y
Rate Explanation: Aster, Inc. has elected to use the 10 percent de minimis indirect cost rate as allowed under the
Uniform Guidance; however, the award agreements with HUD do not include an indirect cost
reimbursement. There were no indirect costs charged to the federal award programs for the year
ended December 31, 2023.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal
award activity of Aster, Inc. under programs of the federal government for the year ended
December 31, 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 Aster, Inc., it is not
intended to and does not present the financial position, changes in net assets, functional expenses,
or cash flows of Aster, Inc. All identified federal source funding received by Aster, Inc.
Title: Definition of a Major Program
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal
award activity of Aster, Inc. under programs of the federal government for the year ended
December 31, 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 Aster, Inc., it is not
intended to and does not present the financial position, changes in net assets, functional expenses,
or cash flows of Aster, Inc. All identified federal source funding received by Aster, Inc. is included in
the Schedule. All federal awards are identified by the Assistance Listing (AL) number.
Except as indicated otherwise, the following basis of presentation applies to all activity reported in
the Schedule. Expenditures are reported on the accrual basis after all year end audit adjustments.
Expenditures are reported up to the amount of the grant award. Expenditures in a program which
are not covered by the federal award are not included. Determination of the amount of federal
awards expended for the Section 202 Capital Advance program is based on the December 31,
2023 balance of capital advances granted in current and prior years. The balance of the capital
advance at December 31, 2023 was $5,166,900.
De Minimis Rate Used: Y
Rate Explanation: Aster, Inc. has elected to use the 10 percent de minimis indirect cost rate as allowed under the
Uniform Guidance; however, the award agreements with HUD do not include an indirect cost
reimbursement. There were no indirect costs charged to the federal award programs for the year
ended December 31, 2023.
Aster, Inc. was awarded a capital advance in the amount of $5,166,900 from the United States
Department of Housing and Urban Development (HUD) in 2008 under Section 202 of the National
Affordable Housing Act of 1959. The capital advance qualifies as a major program due to continuing
compliance requirements associated with this unamortizable mortgage. Also included in this major
program is the HUD project rental assistance award.
Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal
award activity of Aster, Inc. under programs of the federal government for the year ended
December 31, 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 Aster, Inc., it is not
intended to and does not present the financial position, changes in net assets, functional expenses,
or cash flows of Aster, Inc. All identified federal source funding received by Aster, Inc. is included in
the Schedule. All federal awards are identified by the Assistance Listing (AL) number.
Except as indicated otherwise, the following basis of presentation applies to all activity reported in
the Schedule. Expenditures are reported on the accrual basis after all year end audit adjustments.
Expenditures are reported up to the amount of the grant award. Expenditures in a program which
are not covered by the federal award are not included. Determination of the amount of federal
awards expended for the Section 202 Capital Advance program is based on the December 31,
2023 balance of capital advances granted in current and prior years. The balance of the capital
advance at December 31, 2023 was $5,166,900.
De Minimis Rate Used: Y
Rate Explanation: Aster, Inc. has elected to use the 10 percent de minimis indirect cost rate as allowed under the
Uniform Guidance; however, the award agreements with HUD do not include an indirect cost
reimbursement. There were no indirect costs charged to the federal award programs for the year
ended December 31, 2023.
Except as indicated otherwise, the following basis of presentation applies to all activity reported in
the Schedule. Expenditures are reported on the accrual basis after all year end audit adjustments.
Expenditures are reported up to the amount of the grant award. Expenditures in a program which
are not covered by the federal award are not included. Determination of the amount of federal
awards expended for the Section 202 Capital Advance program is based on the December 31,
2023 balance of capital advances granted in current and prior years. The balance of the capital
advance at December 31, 2023 was $5,166,900.
Aster, Inc. has elected to use the 10 percent de minimis indirect cost rate as allowed under the
Uniform Guidance; however, the award agreements with HUD do not include an indirect cost
reimbursement. There were no indirect costs charged to the federal award programs for the year
ended December 31, 2023.
Title: Subrecipients
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal
award activity of Aster, Inc. under programs of the federal government for the year ended
December 31, 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 Aster, Inc., it is not
intended to and does not present the financial position, changes in net assets, functional expenses,
or cash flows of Aster, Inc. All identified federal source funding received by Aster, Inc. is included in
the Schedule. All federal awards are identified by the Assistance Listing (AL) number.
Except as indicated otherwise, the following basis of presentation applies to all activity reported in
the Schedule. Expenditures are reported on the accrual basis after all year end audit adjustments.
Expenditures are reported up to the amount of the grant award. Expenditures in a program which
are not covered by the federal award are not included. Determination of the amount of federal
awards expended for the Section 202 Capital Advance program is based on the December 31,
2023 balance of capital advances granted in current and prior years. The balance of the capital
advance at December 31, 2023 was $5,166,900.
De Minimis Rate Used: Y
Rate Explanation: Aster, Inc. has elected to use the 10 percent de minimis indirect cost rate as allowed under the
Uniform Guidance; however, the award agreements with HUD do not include an indirect cost
reimbursement. There were no indirect costs charged to the federal award programs for the year
ended December 31, 2023.
There were no federal awards passed through to subrecipients.