Title: NOTE A - BASIS OF ACCOUNTING
Accounting Policies: The accompanying schedule of expenditures of federal awards includes federal grant activity of
Urban Support Agency, Inc., and is presented on the accrual basis of accounting. The information
in this schedule is presented in accordance with the requirements of the Uniform Guidance.
Therefore, some amounts presented in this schedule may differ from amounts presented in, or used
in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: During the year ended June 30, 2024, Urban Support Agency, Inc. did not elect to use the 10% de minimis cost rate.
The accompanying schedule of expenditures of federal awards includes federal grant activity of
Urban Support Agency, Inc., and is presented on the accrual basis of accounting. The information
in this schedule is presented in accordance with the requirements of the Uniform Guidance.
Therefore, some amounts presented in this schedule may differ from amounts presented in, or used
in the preparation of the basic financial statements.
Title: NOTE B - PRESENTATION
Accounting Policies: The accompanying schedule of expenditures of federal awards includes federal grant activity of
Urban Support Agency, Inc., and is presented on the accrual basis of accounting. The information
in this schedule is presented in accordance with the requirements of the Uniform Guidance.
Therefore, some amounts presented in this schedule may differ from amounts presented in, or used
in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: During the year ended June 30, 2024, Urban Support Agency, Inc. did not elect to use the 10% de minimis cost rate.
The accompanying schedule of expenditures of federal awards covers the fiscal year ended June
30, 2024.
Title: NOTE C - DE MINIMUS COST RATE
Accounting Policies: The accompanying schedule of expenditures of federal awards includes federal grant activity of
Urban Support Agency, Inc., and is presented on the accrual basis of accounting. The information
in this schedule is presented in accordance with the requirements of the Uniform Guidance.
Therefore, some amounts presented in this schedule may differ from amounts presented in, or used
in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: During the year ended June 30, 2024, Urban Support Agency, Inc. did not elect to use the 10% de minimis cost rate.
During the year ended June 30, 2024, Urban Support Agency, Inc. did not elect to use the 10% de
minimis cost rate.
Title: NOTE D - LOAN AND LOAN GURANTEES
Accounting Policies: The accompanying schedule of expenditures of federal awards includes federal grant activity of
Urban Support Agency, Inc., and is presented on the accrual basis of accounting. The information
in this schedule is presented in accordance with the requirements of the Uniform Guidance.
Therefore, some amounts presented in this schedule may differ from amounts presented in, or used
in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: During the year ended June 30, 2024, Urban Support Agency, Inc. did not elect to use the 10% de minimis cost rate.
Urban Support Agency, Inc. did not expend federal awards related to loans or loan guarantees
during the year ended June 30, 2024. Urban Support Agency, Inc. had no loans outstanding at the
year ended June 30, 2024.
Title: NOTE E - FEDERALLY FUNDED INSURANCE
Accounting Policies: The accompanying schedule of expenditures of federal awards includes federal grant activity of
Urban Support Agency, Inc., and is presented on the accrual basis of accounting. The information
in this schedule is presented in accordance with the requirements of the Uniform Guidance.
Therefore, some amounts presented in this schedule may differ from amounts presented in, or used
in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: During the year ended June 30, 2024, Urban Support Agency, Inc. did not elect to use the 10% de minimis cost rate.
Urban Support Agency, Inc. has no federally funded insurance.
Title: NOTE F- NONCASH ASSISTANCE
Accounting Policies: The accompanying schedule of expenditures of federal awards includes federal grant activity of
Urban Support Agency, Inc., and is presented on the accrual basis of accounting. The information
in this schedule is presented in accordance with the requirements of the Uniform Guidance.
Therefore, some amounts presented in this schedule may differ from amounts presented in, or used
in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: During the year ended June 30, 2024, Urban Support Agency, Inc. did not elect to use the 10% de minimis cost rate.
Urban Support Agency, Inc. did not receive any federal noncash assistance for the fiscal year ended
June 30, 2024.