Title: Note 1 - Basis of presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following, as applicable, the cost principles contained in OMB Circular
A-122, "Cost Principles for Non-Profit Corporations" and the cost principles contained in the Uniform
Guidance, wherein certain types of expenditures are not allowable or are limited as to
reimbursement.
De Minimis Rate Used: N
Rate Explanation: CDLA, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the
Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the
federal award activity of CDLA, Inc., HUD Project No. 121-HH-003 under programs of the federal
government for the year ended June 30, 2024. 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
CDLA, Inc., it is not intended to and does not present the financial position, changes in net assets,
or cash flows of CDLA, Inc.. For the year ended June 30, 2024, no awards were passed through to
subrecipients.
Title: Note 2 - 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, as applicable, the cost principles contained in OMB Circular
A-122, "Cost Principles for Non-Profit Corporations" and the cost principles contained in the Uniform
Guidance, wherein certain types of expenditures are not allowable or are limited as to
reimbursement.
De Minimis Rate Used: N
Rate Explanation: CDLA, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the
Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following, as applicable, the cost principles contained in OMB Circular
A-122, "Cost Principles for Non-Profit Corporations" and the cost principles contained in the Uniform
Guidance, wherein certain types of expenditures are not allowable or are limited as to
reimbursement.
Title: Note 3 - Indirect cost rate
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following, as applicable, the cost principles contained in OMB Circular
A-122, "Cost Principles for Non-Profit Corporations" and the cost principles contained in the Uniform
Guidance, wherein certain types of expenditures are not allowable or are limited as to
reimbursement.
De Minimis Rate Used: N
Rate Explanation: CDLA, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the
Uniform Guidance.
CDLA, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the
Uniform Guidance.
Title: Note 4 - U.S. Department of Housing and Urban Development forgivable loan program
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following, as applicable, the cost principles contained in OMB Circular
A-122, "Cost Principles for Non-Profit Corporations" and the cost principles contained in the Uniform
Guidance, wherein certain types of expenditures are not allowable or are limited as to
reimbursement.
De Minimis Rate Used: N
Rate Explanation: CDLA, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the
Uniform Guidance.
The loan balances outstanding at the beginning of the year are included in the federal expenditures
presented in the Schedule. CDLA, Inc. received no additional loans
during the year. The forgivable loan balance outstanding as of June 30, 2024 consists of:
See Notes to the SEFA for chart/table