Title: Note 1 - Basis of presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following, as applicable, the cost principles contained in OMB Circular
A-122, "Cost Principles for Non-Profit Corporations" and 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: Pacific Grove Supportive Housing, Inc. has elected not to use the 10-percent de minimis indirect
cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the
federal award activity of Pacific Grove Supportive Housing, Inc., HUD Project No.: 121-HD013,
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 Pacific Grove Supportive Housing, Inc., it is not intended to
and does not present the financial position, changes in net assets, or cash flows of Pacific Grove
Supportive Housing, Inc. For the year ended June 30, 2023, no awards were passed through to
sub-recipients.
Title: Note 2 - 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, as applicable, the cost principles contained in OMB Circular
A-122, "Cost Principles for Non-Profit Corporations" and 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: Pacific Grove Supportive Housing, Inc. has elected not to use the 10-percent de minimis indirect
cost rate allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following, as applicable, the cost principles contained in OMB Circular
A-122, "Cost Principles for Non-Profit Corporations" and the cost principles contained in the Uniform
Guidance, wherein certain types of expenditures are not allowable or are limited as to
reimbursement.
Title: Note 3 - Indirect cost rate
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following, as applicable, the cost principles contained in OMB Circular
A-122, "Cost Principles for Non-Profit Corporations" and 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: Pacific Grove Supportive Housing, Inc. has elected not to use the 10-percent de minimis indirect
cost rate allowed under the Uniform Guidance.
Pacific Grove Supportive Housing, Inc. has elected not to use the 10-percent de minimis indirect
cost rate allowed under the Uniform Guidance.
Title: Note 4 - U.S. Department of Housing and
Urban Development forgivable loan program
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following, as applicable, the cost principles contained in OMB Circular
A-122, "Cost Principles for Non-Profit Corporations" and 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: Pacific Grove Supportive Housing, Inc. has elected not to use the 10-percent de minimis indirect
cost rate allowed under the Uniform Guidance.
The loan balance outstanding at the beginning of the year is included in the federal expenditures
presented in the Schedule. Pacific Grove Supportive Housing, Inc. received no additional loans
during the year. The forgivable loan balance outstanding as of June 30, 2023 consists of:
See Notes to the SEFA for chart/table