Title: Note 1 - Basis of Presentation:
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Urban Council Development, Incorporated, dba Villa Alta 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 Urban Council Development, Incorporated, dba Villa Alta, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Urban Council Development, Incorporated, dba Villa Alta.
De Minimis Rate Used: Y
Rate Explanation: The Corporation has elected to use the 10-percent de minimis indirect cost rate as allowed under Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Urban Council Development, Incorporated, dba Villa Alta 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 Urban Council Development, Incorporated, dba Villa Alta, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Urban Council Development, Incorporated, dba Villa Alta.
Title: Note 2 - Summary of Significant Accounting Policies:
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Urban Council Development, Incorporated, dba Villa Alta 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 Urban Council Development, Incorporated, dba Villa Alta, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Urban Council Development, Incorporated, dba Villa Alta.
De Minimis Rate Used: Y
Rate Explanation: The Corporation has elected to use the 10-percent de minimis indirect cost rate as allowed under Uniform Guidance.
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.
The Corporation has elected to use the 10-percent de minimis indirect cost rate as allowed under Uniform Guidance.
Title: Note 3 - Capital Advance:
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Urban Council Development, Incorporated, dba Villa Alta 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 Urban Council Development, Incorporated, dba Villa Alta, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Urban Council Development, Incorporated, dba Villa Alta.
De Minimis Rate Used: Y
Rate Explanation: The Corporation has elected to use the 10-percent de minimis indirect cost rate as allowed under Uniform Guidance.
The following is the activity of the capital advance for the year ended December 31, 2023: Assistance Listing Number: 14.157; Program Name: Supportive Housing for the Elderly: Capital Advance; Advance Outstanding December 31, 2022 $6,808,515; Advance Awarded for the Year Ended December 31,2023 $0; Advance Repaid for the Year Ended December 31, 2023 $0; Advance Outstanding December 31, 2023 $6,808,515.