Title: RELATIONSHIP TO FINANCIAL STATEMENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards (the schedule) includes the federal grant activity of New Life Centers of Chicagoland under programs of the federal government for the year ended December 31, 2023. The information in the schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Expenditures in 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. Donated food commodities are valued at the time of disbursement. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. If New Life Centers of Chicagoland is required to match certain federal assistance, as defined by the grant agreements, no such matching has been included as expenditures in the schedule.
De Minimis Rate Used: Y
Rate Explanation: The auditee did use the de minimis cost rate when allowed by the grant agreements
See the Notes to the SEFA for chart/table.
Title: NON-CASH ASSISTANCE
Accounting Policies: The accompanying schedule of expenditures of federal awards (the schedule) includes the federal grant activity of New Life Centers of Chicagoland under programs of the federal government for the year ended December 31, 2023. The information in the schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Expenditures in 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. Donated food commodities are valued at the time of disbursement. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. If New Life Centers of Chicagoland is required to match certain federal assistance, as defined by the grant agreements, no such matching has been included as expenditures in the schedule.
De Minimis Rate Used: Y
Rate Explanation: The auditee did use the de minimis cost rate when allowed by the grant agreements
The Centers received federal non-cash assistance in the form of donated food commodities from the United States Department of Agriculture (USDA) Emergency Food Assistance Program (ALN 10.569), Department of Housing and Urban Development (ALN 14.218), and Department of Health and Human Services (ALN 93.558) to distribute through their food pantry.
Title: FEDERAL INSURANCE, LOANS, AND LOAN GUARANTEES
Accounting Policies: The accompanying schedule of expenditures of federal awards (the schedule) includes the federal grant activity of New Life Centers of Chicagoland under programs of the federal government for the year ended December 31, 2023. The information in the schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Expenditures in 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. Donated food commodities are valued at the time of disbursement. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. If New Life Centers of Chicagoland is required to match certain federal assistance, as defined by the grant agreements, no such matching has been included as expenditures in the schedule.
De Minimis Rate Used: Y
Rate Explanation: The auditee did use the de minimis cost rate when allowed by the grant agreements
The Centers did not receive any federal insurance, loans, or loan guarantees.