Title: Basis of Presentation
Accounting Policies: 1. Basis of Presentation
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of Allies for Community Business (Organization) 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 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 – 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 to reimbursement.
Indirect Cost Rate – The Organization has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Grant, Award, or Other Identifying Number – Grant or award numbers are presented where available. The U.S. Small Business Administration 7(a) loan guarantee program does not have grant or award numbers available. The basis of the identifying numbers provided on the schedule of expenditures of federal awards for the contracts are the dates of the award or loan guarantee agreements.
De Minimis Rate Used: N
Rate Explanation: The Organization did not charge indirect costs to its federal awards.
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of Allies for Community Business (Organization) 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 the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Title: Summary of Significant Accounting Policies
Accounting Policies: 1. Basis of Presentation
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of Allies for Community Business (Organization) 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 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 – 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 to reimbursement.
Indirect Cost Rate – The Organization has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Grant, Award, or Other Identifying Number – Grant or award numbers are presented where available. The U.S. Small Business Administration 7(a) loan guarantee program does not have grant or award numbers available. The basis of the identifying numbers provided on the schedule of expenditures of federal awards for the contracts are the dates of the award or loan guarantee agreements.
De Minimis Rate Used: N
Rate Explanation: The Organization did not charge indirect costs to its federal awards.
Expenditures – 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 to reimbursement.
Indirect Cost Rate – The Organization has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Grant, Award, or Other Identifying Number – Grant or award numbers are presented where available. The U.S. Small Business Administration 7(a) loan guarantee program does not have grant or award numbers available. The basis of the identifying numbers provided on the schedule of expenditures of federal awards for the contracts are the dates of the award or loan guarantee agreements.
Title: Subrecipients
Accounting Policies: 1. Basis of Presentation
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of Allies for Community Business (Organization) 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 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 – 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 to reimbursement.
Indirect Cost Rate – The Organization has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Grant, Award, or Other Identifying Number – Grant or award numbers are presented where available. The U.S. Small Business Administration 7(a) loan guarantee program does not have grant or award numbers available. The basis of the identifying numbers provided on the schedule of expenditures of federal awards for the contracts are the dates of the award or loan guarantee agreements.
De Minimis Rate Used: N
Rate Explanation: The Organization did not charge indirect costs to its federal awards.
The Organization did not provide federal awards to subrecipients during the year ended December 31, 2023.
Title: Nonmonetary Assistance
Accounting Policies: 1. Basis of Presentation
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of Allies for Community Business (Organization) 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 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 – 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 to reimbursement.
Indirect Cost Rate – The Organization has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Grant, Award, or Other Identifying Number – Grant or award numbers are presented where available. The U.S. Small Business Administration 7(a) loan guarantee program does not have grant or award numbers available. The basis of the identifying numbers provided on the schedule of expenditures of federal awards for the contracts are the dates of the award or loan guarantee agreements.
De Minimis Rate Used: N
Rate Explanation: The Organization did not charge indirect costs to its federal awards.
The Organization neither received nor disbursed federal awards in the form of nonmonetary assistance during the fiscal year ended December 31, 2023.
Title: Donated Personal Protective Equipment (unaudited)
Accounting Policies: 1. Basis of Presentation
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of Allies for Community Business (Organization) 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 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 – 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 to reimbursement.
Indirect Cost Rate – The Organization has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Grant, Award, or Other Identifying Number – Grant or award numbers are presented where available. The U.S. Small Business Administration 7(a) loan guarantee program does not have grant or award numbers available. The basis of the identifying numbers provided on the schedule of expenditures of federal awards for the contracts are the dates of the award or loan guarantee agreements.
De Minimis Rate Used: N
Rate Explanation: The Organization did not charge indirect costs to its federal awards.
The Organization did not receive any in-kind donations of personal protective equipment that was funded by direct or pass through federal awards.
Title: Loans and Loan Guarantees
Accounting Policies: 1. Basis of Presentation
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of Allies for Community Business (Organization) 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 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 – 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 to reimbursement.
Indirect Cost Rate – The Organization has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Grant, Award, or Other Identifying Number – Grant or award numbers are presented where available. The U.S. Small Business Administration 7(a) loan guarantee program does not have grant or award numbers available. The basis of the identifying numbers provided on the schedule of expenditures of federal awards for the contracts are the dates of the award or loan guarantee agreements.
De Minimis Rate Used: N
Rate Explanation: The Organization did not charge indirect costs to its federal awards.
In accordance with the Uniform Guidance, §200.502 Basis for determining Federal awards expended, since the federal government is at risk for loans and loan guarantees awarded until the debt is repaid, the amount to be presented as expenditures of federal awards for loans and loan guarantees awarded, including those awarded and expended in prior years that have continuing compliance requirements, is:
(1) Value of new loans or loan guarantees made or received during the audit period; plus
(2) Beginning of the audit period balance of loans and loan guarantees from previous years for which the federal government imposes continuing compliance requirements; plus
(3) Any interest subsidy, cash, or administrative cost allowance received.
Accordingly, the Organization has reported loans and loan guarantees awarded in accordance with the aforementioned criteria. Amounts presented as expenditures of federal awards for loan and loan guarantee programs by federal program and Assistance Listing Number (ALN) are as follows: See the notes to the SEFA for chart/table.
Title: Basis for Determining Expenditures of Federal Awards for the Economic Adjustment Assistance Program, Federal ALN 11.307
Accounting Policies: 1. Basis of Presentation
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of Allies for Community Business (Organization) 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 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 – 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 to reimbursement.
Indirect Cost Rate – The Organization has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Grant, Award, or Other Identifying Number – Grant or award numbers are presented where available. The U.S. Small Business Administration 7(a) loan guarantee program does not have grant or award numbers available. The basis of the identifying numbers provided on the schedule of expenditures of federal awards for the contracts are the dates of the award or loan guarantee agreements.
De Minimis Rate Used: N
Rate Explanation: The Organization did not charge indirect costs to its federal awards.
The Office of Management and Budget (OMB) Compliance Supplement section 4-11.300 provides a formula to determine the amount to be presented on the schedule of expenditures of federal awards for revolving loan fund (RLF) grants under federal ALN 11.307. The formula to determine expenditures to be reported in the Schedule is as follows: See the Notes to the SEFA for chart/table.
(1) The balance of RLF loans outstanding at the end of the recipient’s fiscal year, plus;
(2) The cash and investment balance in the RLF at the end of the fiscal year, plus;
(3) Administrative expenses paid out of the RLF during the year, plus;
(4) The unpaid principal of all loans written off during the year; and then multiply this sum by;
(5) The federal share of the RLF based on the federal grant rate as specified in the grant award.
Accordingly, the Organization has reported expenditures of federal awards for its Economic Adjustment Assistance funded RLF program as follows: