Audit 32063

Title: Loan/loan guarantee outstanding balances Accounting Policies: Note 1 Basis of Presentation The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal awards programs administered by the City, an entity as defined in Note 1 to the City's basic financial statements. Federal awards received directly from federal agencies, as well as federal awards passed through from other government agencies, are included on the Schedule of Expenditures of Federal Awards. Note 2 Basis of Accounting The basis of accounting varies by federal program consistent with the underlying regulations pertaining to each program. The amounts reported as federal expenditures generally were obtained from the appropriate federal financial reports for the applicable program and periods. The amounts reported in these federal financial reports are prepared from records maintained for each program. These records are periodically reconciled to the general ledger, which is the source of the financial statements. Note 3 Indirect Cost Rate Indirect costs are included in the reported expenditures to the extent they are included in the federal financial reports used as the source for the data presented. The City has not elected to use the 10% de minimus cost rate allowed under Uniform Guidance. Note 4 Matching Costs Matching costs, such as the City's share of certain program costs, are not included in the reported expenditures. Note 5 Expenditures of Federal Revenue The City of Auburn operates a revolving loan program utilizing federal financial assistance received under the Community Development Block Grants/Small Cities and Entitlement Programs. Loans outstanding at June 30, 2022 under this program, as reported in the Citys financial statements, are as follows: Loans Receivable $ 3,430,389Less: Allowance for Uncollectible Accounts (637,408)Net Loans Receivable $ 2,792,981 The City disbursed new loans in the amount of $32,000 and received program income from repayment of loan principal in the amount of $204,500. Note 6 Sub-Recipients The City of Auburn provided federal awards to sub-recipients as follows: Community Development Block Grant - ALN Number 14.218Aurora Of CNY Vision/Hearing $ 11,723Boyle Senior Center 10,833Transportation Project Of Cayuga County SCAT Van 12,180Chapel House Homeless Shelter 14,000Cayuga-Seneca Community Action Agency Homeless Services 9,000Calvary Food Pantry 12,805Legal Aid Services - Victims of Domestic Violence 10,000Cayuga Counseling Services CCSI 15,000Booker T. Washington Summer Camp 9,500Total $ 105,041Coronavirus State and Local Fiscal Recovery Funds - ALN Number 21.027Auburn Public Theater $ 101,252Cayuga Economic Development Agency 497,424Auburn Downtown BID 20,000Total $ 618,676 De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS (14.218) - Balances outstanding at the end of the audit period were 2792981.