Title: Note 1. Summary of Significant Accounting Policies
Accounting Policies: gaap
De Minimis Rate Used: N
Rate Explanation: Castleton Homes, Inc. has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance. Castleton Homes, Inc. is reimbursed for programmatic and administrative costs in accordance with rules set forth by the U.S. Department of Housing and Urban Development.
Note 1. Basis of Presentation – The Schedule of Expenditures of Federal Awards includes the federal award activity of Castleton Home, Inc. for the year ended June 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, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Castleton Homes, Inc., it is not intended to and does not present the financial position, changes in net assets or cash flows of Castleton Homes, Inc.
Title: Note 2. Summary of Significant Accounting Policies
Accounting Policies: gaap
De Minimis Rate Used: N
Rate Explanation: Castleton Homes, Inc. has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance. Castleton Homes, Inc. is reimbursed for programmatic and administrative costs in accordance with rules set forth by the U.S. Department of Housing and Urban Development.
Sumary of Significant Accounting Polices - Expenditures reported on the Schedule of Expenditures of Federal Awards 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.
Title: Note 3. Indirect Cost Rate
Accounting Policies: gaap
De Minimis Rate Used: N
Rate Explanation: Castleton Homes, Inc. has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance. Castleton Homes, Inc. is reimbursed for programmatic and administrative costs in accordance with rules set forth by the U.S. Department of Housing and Urban Development.
Castleton Homes, Inc. has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance. Castleton Homes, Inc. is reimbursed for programmatic and administrative costs in accordance with rules set forth by the U.S. Department of Housing and Urban Development.
Title: Note 4. Loans/Loan Guarantee Outstanding Balance
Accounting Policies: gaap
De Minimis Rate Used: N
Rate Explanation: Castleton Homes, Inc. has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance. Castleton Homes, Inc. is reimbursed for programmatic and administrative costs in accordance with rules set forth by the U.S. Department of Housing and Urban Development.
Loans/Loan Guarantee Outstanding Balance: Balance of loan outstanding at June 30, 2024: Federal Assistance Listing Number 14.181 Program name: Supportive Housing for Persons with Disabilities Capital Advance Program Oustanding balance $869,600
Title: Note 5. Federal Loan Program
Accounting Policies: gaap
De Minimis Rate Used: N
Rate Explanation: Castleton Homes, Inc. has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance. Castleton Homes, Inc. is reimbursed for programmatic and administrative costs in accordance with rules set forth by the U.S. Department of Housing and Urban Development.
Castleton Homes, Inc. received a U.S. Department of Housing and Urban Development capital advance under Section 811 of the National Affordable Housing Act. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. Castleton Homes, Inc. received no additional loans during the current year.