Accounting Policies: NOTE A Basis of PresentationThe accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Centerstone of America, Inc. and subsidiaries (collectively, the "Corporation") under programs of the federal government for the year ended June 30, 2022. The information in this schedule is presented in accordance with 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). NOTE B Summary of Significant Accounting PoliciesExpenditures 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. The Corporation has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.NOTE C HOME Investment Partnerships Program and Supportive Housing ProgramThe Corporation had the following grant advances outstanding as of June 30, 2022, from HOME Investment Partnerships Program through the Madison County Community Development and the Supportive Housing Program through the U.S. Department of Housing and Urban Development for the construction and renovation of a group home facility. The Corporation also received grant advances from HOME Investment Partnership Program through the Housing and Neighborhood Development Department for construction of an affordable housing apartment community.AmountProgramALGrant IDoutstandingMadison Country Community Development HOMEInvestments Partnership Program14.239Theodoro Place 2011$211,834U.S. Department of Housing and Urban Development Supportive Housing Program14.235IL01B204001356,650Housing and Neighborhood Development Department HOME Investments Partnership Program14.239Kinser Flats175,000Total federal grant advances$743,484CENTERSTONE OF AMERICA, INC.Notes to the Schedule of Expenditures of Federal AwardsJune 30, 2022NOTE D OtherThere were no federal awards expended in the form of non-cash assistance and there were no loan guarantees outstanding at year end. NOTE E Insurance - During the year ended June 30, 2022, the following insurance was in effect: Insurance type Amount Professional liability $2,000,000 Professional liability excess 2,000,000 Commercial general liability 2,000,000 Fiduciary liability5,000,000Directors and officers liability6,000,000Auto1,000,000Auto excess1,000,000Workers compensation1,000,000Commercial property195,770,681Employment practices liability 5,000,000NOTE F Provider Relief FundFor entities with June 30 fiscal year-ends, the first Schedule reporting period for Provider Relief Fund (PRF) expenditures (including lost revenue) is June 30, 2022. Based on current guidance from the Department of Health and Human Services (HHS), PRF expenditures (including lost revenues) are to be reported on the Schedule based upon PRF reports submitted through the Health Resources and Services Administration (HRSA) reporting portal. Therefore, the amount of PRF expenditures included on the June 30, 2022, Schedule is based upon the PRF reporting portal guidelines for Period 2 and Period 3 (payments received from July 1, 2020 to June 30, 2021), as specified by HHS.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.