Title: NOTE 1 BASIS OF PRESENTATION
Accounting Policies: (24)
NOTE 1 BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal (the Schedule) includes the federal
award activity of Community Development Corporation of Fort Wayne dba: Community
Development Corporation of Northeast Indiana (CDC or Organization) under programs of
the federal government for the year ended December 31, 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, Cost Principles, and Audit
Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only
a selected portion of the operations of the CDC, it is not intended and does not present the
financial position, changes in net assets, or cash flows of the CDC.
NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported on the Schedule are reported on the accrual basis of accounting.
Federal expenditures are recognized following the cost principles contained in the Uniform
Guidance, wherein types of expenditures are not allowable or are limited as to
reimbursement.
De Minimis Rate Used: N
Rate Explanation: NOTE 3 INDIRECT COST RATE
CDC has elected not to use the 10 percent de minimis indirect cost rate allowed under the
Uniform Guidance.
The accompanying schedule of expenditures of federal (the Schedule) includes the federal
award activity of Community Development Corporation of Fort Wayne dba: Community
Development Corporation of Northeast Indiana (CDC or Organization) under programs of
the federal government for the year ended December 31, 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, Cost Principles, and Audit
Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only
a selected portion of the operations of the CDC, it is not intended and does not present the
financial position, changes in net assets, or cash flows of the CDC.
Title: NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: (24)
NOTE 1 BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal (the Schedule) includes the federal
award activity of Community Development Corporation of Fort Wayne dba: Community
Development Corporation of Northeast Indiana (CDC or Organization) under programs of
the federal government for the year ended December 31, 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, Cost Principles, and Audit
Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only
a selected portion of the operations of the CDC, it is not intended and does not present the
financial position, changes in net assets, or cash flows of the CDC.
NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported on the Schedule are reported on the accrual basis of accounting.
Federal expenditures are recognized following the cost principles contained in the Uniform
Guidance, wherein types of expenditures are not allowable or are limited as to
reimbursement.
De Minimis Rate Used: N
Rate Explanation: NOTE 3 INDIRECT COST RATE
CDC has elected not to use the 10 percent de minimis indirect cost rate allowed under the
Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting.
Federal expenditures are recognized following the cost principles contained in the Uniform
Guidance, wherein types of expenditures are not allowable or are limited as to
reimbursement.
Title: NOTE 3 INDIRECT COST RATE
Accounting Policies: (24)
NOTE 1 BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal (the Schedule) includes the federal
award activity of Community Development Corporation of Fort Wayne dba: Community
Development Corporation of Northeast Indiana (CDC or Organization) under programs of
the federal government for the year ended December 31, 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, Cost Principles, and Audit
Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only
a selected portion of the operations of the CDC, it is not intended and does not present the
financial position, changes in net assets, or cash flows of the CDC.
NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported on the Schedule are reported on the accrual basis of accounting.
Federal expenditures are recognized following the cost principles contained in the Uniform
Guidance, wherein types of expenditures are not allowable or are limited as to
reimbursement.
De Minimis Rate Used: N
Rate Explanation: NOTE 3 INDIRECT COST RATE
CDC has elected not to use the 10 percent de minimis indirect cost rate allowed under the
Uniform Guidance.
CDC has elected not to use the 10 percent de minimis indirect cost rate allowed under the
Uniform Guidance.
Title: NOTE 4 CALCULATION OF ECONOMIC DEVELOPMENT ADMINISTRATION (EDA)
EXPENDITURES
Accounting Policies: (24)
NOTE 1 BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal (the Schedule) includes the federal
award activity of Community Development Corporation of Fort Wayne dba: Community
Development Corporation of Northeast Indiana (CDC or Organization) under programs of
the federal government for the year ended December 31, 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, Cost Principles, and Audit
Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only
a selected portion of the operations of the CDC, it is not intended and does not present the
financial position, changes in net assets, or cash flows of the CDC.
NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported on the Schedule are reported on the accrual basis of accounting.
Federal expenditures are recognized following the cost principles contained in the Uniform
Guidance, wherein types of expenditures are not allowable or are limited as to
reimbursement.
De Minimis Rate Used: N
Rate Explanation: NOTE 3 INDIRECT COST RATE
CDC has elected not to use the 10 percent de minimis indirect cost rate allowed under the
Uniform Guidance.
The COVID-19 EDA Economic Adjustment expenditure amount was calculated as follows:
1. Balance of Revolving Loan Fund (RLF) Loans Outstanding at Year-End $ 882,409
2. Cash and Investment Balance at Year-End 617,693
3. Administrative Expenses for the Year* 21,086
4. Unpaid Principal of All Loans Written Off During the Year -
Subtotal 1,521,188
5. Federal Share of the RLF Federal Expenditures 100 %
Federal Expenditures $ 1,521,188
* This line item does not include an allowance for credit losses.