Notes to SEFA
Title: Loans
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the Uniform Guidance, whereincertain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: FLHC does not have a negotiated indirect cost rate nor have they received a de minimis indirect cost rate under these agreements.
Loans reported in the Schedule represent the beginning balances of loans receievd in previous years which have continuing compliance recirements. These loans had the following balances outstanding as of June 30, 2022: Farm Labor Housing Loans and Grants, originating in 1999: 10.405, $165,472. Farm Labor Housing Loans and Grants, originating in 2002: 10.405, $589,159.
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the Uniform Guidance, whereincertain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: FLHC does not have a negotiated indirect cost rate nor have they received a de minimis indirect cost rate under these agreements.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Catholic Charities and Community Services Farm Labor Housing Corporation(FLHC) under programs of the federal government for the year ended June 30, 2022. 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 of Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of FLHC, it is not intended and does not present the financial position, changes in net assets, or cash flows of FLHC.
Title: Subrecipient Awards
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the Uniform Guidance, whereincertain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: FLHC does not have a negotiated indirect cost rate nor have they received a de minimis indirect cost rate under these agreements.
There were no awards passed through by FLHC to subrecipients for the year ended June 30, 2022.