Title: Note 1 - Basis of Presentation
Accounting Policies: The Schedule of Expenditures of Federal Awards includes the federal grant activity of Community Support Network and is presented on the accrual basis. 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). The amounts reported in the accompanying Schedule of Expenditures of Federal Awards agree, in all material respects, to amounts reported within Community Support Network’s financial statements.
De Minimis Rate Used: N
Rate Explanation: CSN charged the indirect cost per the rate allowable which is higher than 10%
The accompanying Schedule of Expenditures of Federal Awards (“SEFA”) includes the federal award activity of Community Support Network (the “Organization”) under programs of the federal government 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 SEFA presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Organization.
Title: Note 2 - Summary of Significant Accounting Policies
Accounting Policies: The Schedule of Expenditures of Federal Awards includes the federal grant activity of Community Support Network and is presented on the accrual basis. 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). The amounts reported in the accompanying Schedule of Expenditures of Federal Awards agree, in all material respects, to amounts reported within Community Support Network’s financial statements.
De Minimis Rate Used: N
Rate Explanation: CSN charged the indirect cost per the rate allowable which is higher than 10%
Expenditures reported on the SEFA 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: The Schedule of Expenditures of Federal Awards includes the federal grant activity of Community Support Network and is presented on the accrual basis. 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). The amounts reported in the accompanying Schedule of Expenditures of Federal Awards agree, in all material respects, to amounts reported within Community Support Network’s financial statements.
De Minimis Rate Used: N
Rate Explanation: CSN charged the indirect cost per the rate allowable which is higher than 10%
The Organization did not elect to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Note 4 - Subrecipients
Accounting Policies: The Schedule of Expenditures of Federal Awards includes the federal grant activity of Community Support Network and is presented on the accrual basis. 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). The amounts reported in the accompanying Schedule of Expenditures of Federal Awards agree, in all material respects, to amounts reported within Community Support Network’s financial statements.
De Minimis Rate Used: N
Rate Explanation: CSN charged the indirect cost per the rate allowable which is higher than 10%
The Organization provided $350,379 of federal awards to a subrecipient, TLC Child and Family Services, during the year ended June 30, 2024.
Title: Note 5 - Loan Programs with Continuing Compliance Requirements
Accounting Policies: The Schedule of Expenditures of Federal Awards includes the federal grant activity of Community Support Network and is presented on the accrual basis. 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). The amounts reported in the accompanying Schedule of Expenditures of Federal Awards agree, in all material respects, to amounts reported within Community Support Network’s financial statements.
De Minimis Rate Used: N
Rate Explanation: CSN charged the indirect cost per the rate allowable which is higher than 10%
The Organization participates in the Supportive Housing Program/Special User Housing Rehabilitation loans, Community Development Block Grants/Entitlement Grants, Home Investment Partnership, federal loan programs. The balance of the current year loan activities, as required under the Uniform Guidance, are presented in the Schedule of Expenditures of Federal Awards. The following is a summary of federal loan balances as of June 30, 2024: Supportive Housing Program loans $1,241,316; Community Development Block Grant loan $388,452; Home Investment Partnership Program loans $998,957; Total $2,628,725.