Title: Basis of Presentation
Accounting Policies: 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 and, accordingly, are not reflected as expenditures in the Schedule. Award reporting periods do not necessarily coincide with the fiscal reporting period of the Organization. Negative amounts, if any, presented in the Schedule represent adjustments or credits made, in the normal course of business, to expenditures reported in prior years. Pass-through entity identifying numbers are presented where available and applicable.
The Organization has elected to not use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Organization did not have any federal loan programs during the year ended December 31, 2023.
De Minimis Rate Used: N
Rate Explanation: N/A
The accompanying schedule of expenditures of federal and state awards (the “Schedule”) includes the federal and state award activity of CitySquare (the “Organization”) under programs of the federal and state 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). Award reporting periods do not necessarily coincide with the fiscal reporting period of the Organization. Negative amounts, if any, presented in the Schedule represent adjustments or credits made, in the normal course of business, to expenditures reported in prior years. Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not represent the financial position, changes in net assets, or cash flows of the Organization.
Title: Summary of Significant Accounting Policies
Accounting Policies: 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 and, accordingly, are not reflected as expenditures in the Schedule. Award reporting periods do not necessarily coincide with the fiscal reporting period of the Organization. Negative amounts, if any, presented in the Schedule represent adjustments or credits made, in the normal course of business, to expenditures reported in prior years. Pass-through entity identifying numbers are presented where available and applicable.
The Organization has elected to not use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Organization did not have any federal loan programs during the year ended December 31, 2023.
De Minimis Rate Used: N
Rate Explanation: N/A
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 and, accordingly, are not reflected as expenditures in the Schedule. Award reporting periods do not necessarily coincide with the fiscal reporting period of the Organization. Negative amounts, if any, presented in the Schedule represent adjustments or credits made, in the normal course of business, to expenditures reported in prior years. Pass-through entity identifying numbers are presented where available and applicable.
The Organization has elected to not use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Organization did not have any federal loan programs during the year ended December 31, 2023.
Title: Contingencies
Accounting Policies: 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 and, accordingly, are not reflected as expenditures in the Schedule. Award reporting periods do not necessarily coincide with the fiscal reporting period of the Organization. Negative amounts, if any, presented in the Schedule represent adjustments or credits made, in the normal course of business, to expenditures reported in prior years. Pass-through entity identifying numbers are presented where available and applicable.
The Organization has elected to not use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Organization did not have any federal loan programs during the year ended December 31, 2023.
De Minimis Rate Used: N
Rate Explanation: N/A
Grants require the fulfillment of certain conditions set forth in grant agreements and are subject to periodic review and assessment by the grantors. Failure to satisfy the requirements of the grant agreements could result in disallowed costs and return of funds to grantors. Management believes the Organization is in substantial compliance with the grant provisions and requirements and that disallowed costs, if any, will not have a material effect on the amounts and disclosures.