Title: Summary of significant accounting policies
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards (the Schedule) are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirement for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The Schedule includes the federal award activity of CLA Homes I, Corp. (the Entity) 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 Uniform Guidance. Because the Schedule presents only a selected portion of the operations of the Entity, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Entity.
De Minimis Rate Used: N
Rate Explanation: Indirect Cost Rate
The Organization has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reported on the Schedule of Expenditures of Federal Awards (the Schedule) are
reported on the accrual basis of accounting. Such expenditures are recognized following the cost
principles contained in the Title 2 U.S. Code of Federal Regulations Part 200, Uniform
Administrative Requirements, Cost Principles, and Audit Requirement for Federal Awards
(Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to
reimbursement.
The Schedule includes the federal award activity of CLA Homes I, Corp. (the Entity) 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 Uniform Guidance. Because the
Schedule presents only a selected portion of the operations of the Entity, it is not intended to and
does not present the financial position, changes in net assets or cash flows of the Entity.
Title: Indirect cost rate
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards (the Schedule) are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirement for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The Schedule includes the federal award activity of CLA Homes I, Corp. (the Entity) 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 Uniform Guidance. Because the Schedule presents only a selected portion of the operations of the Entity, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Entity.
De Minimis Rate Used: N
Rate Explanation: Indirect Cost Rate
The Organization has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Entity has elected not to use the 10-percent de minimis indirect cost rate allowed under the
Uniform Guidance.
Title: Loans/ loans guarantee outstanding balance
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards (the Schedule) are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirement for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The Schedule includes the federal award activity of CLA Homes I, Corp. (the Entity) 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 Uniform Guidance. Because the Schedule presents only a selected portion of the operations of the Entity, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Entity.
De Minimis Rate Used: N
Rate Explanation: Indirect Cost Rate
The Organization has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Program Name: Supportive housing for persons with disabilities captial advance Federal Assisatnce Listing Number: 14.181 Outstanding Balance: $ 1,021,800
Title: Federal loan program
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards (the Schedule) are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirement for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The Schedule includes the federal award activity of CLA Homes I, Corp. (the Entity) 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 Uniform Guidance. Because the Schedule presents only a selected portion of the operations of the Entity, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Entity.
De Minimis Rate Used: N
Rate Explanation: Indirect Cost Rate
The Organization has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Entity received a U.S. Department of Housing and Urban Development capital advance under
Section 811 of the National Affordable Housing Act. The loan balance outstanding at the
beginning of the year is included in the federal expenditures presented in the Schedule. The Entity
received no additional loans during the year.