Title: NOTE 1 - BASIS OF PRESENTATION
Accounting Policies: See attached notes.
De Minimis Rate Used: N
Rate Explanation: N/A
The Schedule of Expenditures of Federal Awards includes the federal grant activity of The Ford
Street Project and is presented on the accrual basis. 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). The amounts reported in the accompanying Schedule of Expenditures of Federal
Awards agree, in all material respects, to amounts reported within The Ford Street Project’s financial
statements.
Title: NOTE 2 - PASS-THROUGH ENTITIE’S IDENTIFYING NUMBER
Accounting Policies: See attached notes.
De Minimis Rate Used: N
Rate Explanation: N/A
When federal awards were received from a pass-through entity, the Schedule of Expenditures of
Federal Awards shows, if available, the identifying number assigned by the pass-through entity.
When no identifying number is shown, The Ford Street Project determined that no identifying
number is assigned for the program or The Ford Street Project was unable to obtain an identifying
number from the pass-through entity.
Title: NOTE 3 - FEDERAL ASSISTANCE LISTING NUMBERS
Accounting Policies: See attached notes.
De Minimis Rate Used: N
Rate Explanation: N/A
The Federal assistance listing number included in the accompanying Schedule of Expenditures of
Federal and State Awards was determined based on the program name, review of the award
contract, and the Office of Management and Budget’s Federal assistance listing numbers.
Title: NOTE 4 - INDIRECT COSTS
Accounting Policies: See attached notes.
De Minimis Rate Used: N
Rate Explanation: N/A
The Ford Street Project elected not to use the 10% de minimis cost rate as covered in the Uniform
Guidance Part 200.414 Indirect (F&A) Costs.
Title: NOTE 5 - LOAN PROGRAM - U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPENT
Accounting Policies: See attached notes.
De Minimis Rate Used: N
Rate Explanation: N/A
Home Investment Partnerships Program (14.239)
In December 1995, the Organization purchased a building and land on 1175 S. State Street, Ukiah,
California. To finance the purchase, the Organization obtained a note payable in the amount of
$534,150. The note payable is passed through the Department of Housing and Community
Development (DHCD), which is secured by a deed of trust of real property. On June 6, 2000, a
total of $6,184 was disencumbered from the loan making the new balance $527,966. The interest
rate of 3% is accrued in annual installments of interest only, of $15,839 through December 2026
with a final payment of principal of $527,966 plus accrued and unpaid interest. Total accrued
interest payable on the DHCD note payable was $437,323 as of June 30, 2024.
The loan activity during the year ended June 30, 2024 is as follows:
Note Payable Interest Payable Total
Beginning balance - 6/30/23 $ 527,966 $ 421,484 $ 949,450
Accrued interest - 15,839 15,839
Ending balance - 6/30/24 $ 527,966 $ 437,323 $ 965,289