Notes to SEFA
Accounting Policies: Basis of Accounting
The accompanying schedule of expenditures of federal awards includes the federal grant activity ofCommunity Action Team, Inc. and is presented on the accrual basis of accounting.
The information in this schedule is presented in accordance with the requirements of Title 2 CFR Part200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for FederalAwards (Uniform Guidance) or other requirements of Federal agencies such as the Department ofTreasury. Therefore, some amounts presented in this schedule may differ from amounts presented in,or used in the preparation of, the basic financial statements.
Uniform Grant Guidance considers capital advances to be "expenditures" for the purposes of thisstatement. Additionally, outstanding federal loans with continuing compliance requirements areconsidered expenditures for the purposes of this statement. Assistance Listing Programs
The program titles and Assistance Listing (“AL”) numbers were obtained from the federal or pass-through grantor or sam.gov.
4.Loan Programs
Forgivable loans or capital advances and other federal loans (collectively "Loans") outstanding at thebeginning of the year and Loans made during the year are included in the federal expenditurespresented in the Schedule.
The balance of Loans outstanding at June 30, 2022 consists of:
Outstanding Balance at June 30, 2022
AL NumberProgram Name
10.415Rural Rental Housing Loans$439,298
14.247Self-Help Opportunity$135,000
De Minimis Rate Used: N
Rate Explanation: The Organization is not using the 10% de minimis indirect cost rate under the Uniform Guidance