Title: Relationship to Basic Financial Statements
Accounting Policies: 1. Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal awards activity of Step By Step, Inc. (the Organization) under programs of the federal government for the year ended June 30, 2023. The information in the 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.
2. Summary of Significant Accounting Policies
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 are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
In certain programs, the expenditures reported in the basic financial statements may differ from the expenditures reported in the Schedule due to program expenditures exceeding grant or contract budget limitation which are not included as federal awards.
Title: U.S. Department of Housing and Urban Development
Accounting Policies: 1. Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal awards activity of Step By Step, Inc. (the Organization) under programs of the federal government for the year ended June 30, 2023. The information in the 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.
2. Summary of Significant Accounting Policies
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 are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
These federal awards were utilized in a prior year for the acquisition of real property and related development costs. Included is a federal loan which is included in long-term debt as follows:
Program
Federal
Assistance
Listing
Number
Original
Loan Amount
Outstanding
Loan
Balance
Home Investment Partnerships Program 14.239 $ 350,000 (1) $ 60,222
(1) Additionally, in a prior year, the Luzerne County Office of Community Development provided $124,447 in the form of a noninterest bearing deferred payment loan ($20,513 was provided
during the year ended June 30, 2001 and $103,934 was provided prior to that year) with respect to this same property in Luzerne County. The deferred payment loan will be forgiven in its entirety
contingent upon compliance with all terms and conditions of the loan agreement and upon final satisfaction of this indebtedness. At June 30, 2023, the deferred payment loan has been charged to Security Deposits and Other Liabilities.
Title: Provider Relief Fund
Accounting Policies: 1. Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal awards activity of Step By Step, Inc. (the Organization) under programs of the federal government for the year ended June 30, 2023. The information in the 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.
2. Summary of Significant Accounting Policies
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 are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
As it relates to Assistance Listing Number 93.498, Provider Relief Fund and American Rescue Plan
Rural Distribution (PRF) the schedule for the year ended June 30, 2023 includes expenditures included
in the Period 4 PRF Report for the Organization, TIN 232052563. The Period 4 PRF Report includes
payments received for the period July 1, 2021 to December 31, 2021. The deadline to use these funds was December 31, 2022. A reconciliation of the amounts reported in the schedule is as follows:
PRF payments received through June 30, 2023 $ 419,394
Interest earned on PRF payments received through June 30, 2023 -
Total payments included in Period 4 PRF Report 419,394
Less expenditures included in Period 4 PRF Report (419,394)
Remaining unused payments included in Period 4 PRF Report $ -