Notes to SEFA
Title: Basis of presentation
Accounting Policies: Expenditures reported on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: For the cost rate there's a default allocation the org can use to allocate overhead usage from Fed funds, but CHI tracks the actual expenses by catagories in accordance to grant limits.
The accompanying schedule of expenditures of federal awards ("Schedule") includes the federal award activity of Conard House, Inc. and Related Organizations (the "Organization") under programs of the federal government for the year ended June 30, 2023. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal
Regulations ("CFR") 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 the Organization, it is not intended to and does not present 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 accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: For the cost rate there's a default allocation the org can use to allocate overhead usage from Fed funds, but CHI tracks the actual expenses by catagories in accordance to grant limits.
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.
Title: Indirect cost rate
Accounting Policies: Expenditures reported on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: For the cost rate there's a default allocation the org can use to allocate overhead usage from Fed funds, but CHI tracks the actual expenses by catagories in accordance to grant limits.
The Organization has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: Outstanding loan balances
Accounting Policies: Expenditures reported on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: For the cost rate there's a default allocation the org can use to allocate overhead usage from Fed funds, but CHI tracks the actual expenses by catagories in accordance to grant limits.
The following represents the amount of outstanding loans identified by Federal Assistance Listing No. All loans are provided by HUD and are summarized below:
FAL No. Program title
Loans received
in 2023
Prior Year loans
with continuing
compliance
requirements
14.218 Community Development Block Grants/Entitlement Grants $ - $ 5,876,424
14.239 HOME Investment Partnerships Program - 593,217
Total $ - $ 6,469,641