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 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Intra-City Parishes of Manitowoc, Inc. did not elect to use the 10% de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal award activity of Intra-City Parishes of Manitowoc, Inc., under programs of the
federal government for the year ended June 30, 2024. The information in the 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 Intra-City Parishes of Manitowoc, Inc., it is not intended to and does not present the financial position, activities, changes in net assets, functional expenses, and cash flows of Intra-City Parishes of Manitowoc, Inc.
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 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Intra-City Parishes of Manitowoc, Inc. did not elect to use the 10% de minimis cost rate.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in Uniform Guidance,
wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Pass-through entity identifying numbers are presented where available.
Title: Loan Balance
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 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Intra-City Parishes of Manitowoc, Inc. did not elect to use the 10% de minimis cost rate.
As of June 30, 2024, the loan balance for Assistance Listing #14.155, Mortgage Insurance for
the Purchase or Refinancing of Existing Multifamily Housing Projects program was
$1,052,825.
Title: 10% De Minimis
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 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Intra-City Parishes of Manitowoc, Inc. did not elect to use the 10% de minimis cost rate.
Intra-City Parishes of Manitowoc, Inc. did not elect to use the 10% de minimis cost rate.
Title: Subrecipients
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 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Intra-City Parishes of Manitowoc, Inc. did not elect to use the 10% de minimis cost rate.
Intra-City Parishes of Manitowoc, Inc. did not have any subrecipients.