Audit 338044

Title: Significant Accounting Policies Accounting Policies: Basis of Presentation - The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes all federal grant activity and certain loan activity of Central City Concern (CCC). The SEFA is presented using the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. The information in the SEFA 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 SEFA presents only a selected portion of the operations of CCC, it is not intended to and does not present the consolidated financial position, changes in net assets, or cash flows of CCC. Therefore, some amounts presented in the SEFA may differ from amounts presented in, or used in the preparation of, the consolidated financial statements. Pass-through entity identifying numbers are presented when available. Expenditures - Expenditures reported on the SEFA 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. Indirect Cost Rate - CCC has not elected to use the 10 percent de minimis indirect cost rate under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: CCC has not elected to use the 10 percent de minimis indirect cost rate under the Uniform Guidance. Basis of Presentation - The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes all federal grant activity and certain loan activity of Central City Concern (CCC). The SEFA is presented using the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. The information in the SEFA 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 SEFA presents only a selected portion of the operations of CCC, it is not intended to and does not present the consolidated financial position, changes in net assets, or cash flows of CCC. Therefore, some amounts presented in the SEFA may differ from amounts presented in, or used in the preparation of, the consolidated financial statements. Pass-through entity identifying numbers are presented when available. Expenditures - Expenditures reported on the SEFA 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. Indirect Cost Rate - CCC has not elected to use the 10 percent de minimis indirect cost rate under the Uniform Guidance.

Title: Federal Loan Programs Accounting Policies: Basis of Presentation - The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes all federal grant activity and certain loan activity of Central City Concern (CCC). The SEFA is presented using the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. The information in the SEFA 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 SEFA presents only a selected portion of the operations of CCC, it is not intended to and does not present the consolidated financial position, changes in net assets, or cash flows of CCC. Therefore, some amounts presented in the SEFA may differ from amounts presented in, or used in the preparation of, the consolidated financial statements. Pass-through entity identifying numbers are presented when available. Expenditures - Expenditures reported on the SEFA 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. Indirect Cost Rate - CCC has not elected to use the 10 percent de minimis indirect cost rate under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: CCC has not elected to use the 10 percent de minimis indirect cost rate under the Uniform Guidance. Certain amounts reported in the accompanying SEFA include pass-through loan proceeds received by CCC as follows. See the Notes to the SEFA for chart/table