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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Passthrough entity identifying numbers are presented when available.
De Minimis Rate Used: N
Rate Explanation: The cdcb has elected not to use the 10% de-minimus indirect cost rate allowed under the Uniform Guidance for the federal programs.
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity for cdcb under programs of the federal government for the year ended September 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, Costs Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). Because the Schedule presents only a selected portion of the operations of cdcb, it is not intended to, and does not, present the financial position, changes in net assets, or cash flows of cdcb.
Title: INDIRECT COST RATE
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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Passthrough entity identifying numbers are presented when available.
De Minimis Rate Used: N
Rate Explanation: The cdcb has elected not to use the 10% de-minimus indirect cost rate allowed under the Uniform Guidance for the federal programs.
The cdcb has elected not to use the 10% de-minimus indirect cost rate allowed under the Uniform Guidance for the federal programs.
Title: REVOLVING LOAN PROGRAM
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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Passthrough entity identifying numbers are presented when available.
De Minimis Rate Used: N
Rate Explanation: The cdcb has elected not to use the 10% de-minimus indirect cost rate allowed under the Uniform Guidance for the federal programs.
The cdcb operates a revolving loan program. The Community Development Block Grant revolving loan program was used to fund minor repairs for homes of low-income families living in colonia areas. The balance of loans outstanding at September 30, 2024 consists of the following:
Program Title Assistance: Community Development Block Grant
Assistance Listing Number: 14.228
Outstanding Balance at September 30, 2024: $2,635
Only the value of the new loans are included in the federal expenditures presented in the Schedule. As of September 30, 2024, there were no new loans. The loans outstanding are only required to be paid back and are not subject to any other continuing compliance requirements.
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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Passthrough entity identifying numbers are presented when available.
De Minimis Rate Used: N
Rate Explanation: The cdcb has elected not to use the 10% de-minimus indirect cost rate allowed under the Uniform Guidance for the federal programs.
During the year ended September 30, 2024, cdcb had no subrecipients.
Title: NON-CASH ASSISTANCE, FEDERAL LOANS AND LOAN GUARANTEES, AND FEDERALLY
FUNDED INSURANCE
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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Passthrough entity identifying numbers are presented when available.
De Minimis Rate Used: N
Rate Explanation: The cdcb has elected not to use the 10% de-minimus indirect cost rate allowed under the Uniform Guidance for the federal programs.
During the year ended September 30, 2024, cdcb did not receive any non-cash assistance, federal loans and loan guarantees, and federally funded insurance.