Notes to SEFA
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 principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The CAC has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Community Action Council of Lewis, Mason and Thurston Counties and Affiliates’ (the CAC) 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 the CAC, it is not intended to, and does not, present the consolidated financial position, changes in net assets, or cash flows of the CAC.
Title: Loans Outstanding
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. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The CAC has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The CAC has the following loan balances outstanding at September 30, 2023:
Federal Assistance Amount
Program Title Listing Number Outstanding
U.S. Department of Agriculture Rural Rental Housing Loans 10.415 $5,082,359
U.S. Department of Housing and Urban Development
Community Development Block Grants 14.228 504,838
U.S. Department of Housing and Urban Development
Section 8 Housing Assistance Payments Program 14.195 457,304
U.S. Department of Housing and Urban Development
Mark-to-Market Program - Loan (Mortgage Restructuring Loan) 14.U01 284,736
U.S. Department of Housing and Urban Development
Mark-to-Market Program - Loan (Contingent Repayment Loan) 14.U02 168,343
Total $6,497,580