Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Organization did not elect to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of
Catholic Charities Housing Services - Diocese of Yakima (the Organization) under programs of 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 Schedule presents only a selected portion of the operation 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: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Organization did not elect to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance.
The Organization did not elect to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
HUD SHOP LOAN ACTIVITY:
For the fiscal year ended June 30, 2024, Catholic Charities Housing Services – Diocese of Yakima and Subsidiaries had the following HUD SHOP loan activity under Federal Assisted Listing Number #14.247.
Description: HUD SHOP Loans outstanding at July 1, 2023; Amount
$ 972,175;
SHOP funds received, ID# 18-3, amount $0;
Total Loans outstanding as reported on SEFA $ 972,175;
Less: Loans converted to grants during the fiscal year, Amount $-;
Less: Loans eligible for conversion to grants as of June 30, 2024
, ID# 12-1, amount $(222,175);
(verified as having met all federal compliance requirements), ID# 13-1, amount $(90,000);
Total HUD SHOP Loans for which there are continuing federal compliance requirements as of the year ended June 30, 2023 $ 660,000.
Other Loans Outstanding
For the fiscal year ended June 30, 2024, Catholic Charities Housing Services – Diocese of Yakima and Subsidiaries the Capital Magnet Fund loan balance was $750,000.
Title: LOANS
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Organization did not elect to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance
HUD SHOP LOAN ACTIVITY:
For the fiscal year ended June 30, 2024, Catholic Charities Housing Services – Diocese of Yakima and Subsidiaries had the following HUD SHOP loan activity under Federal Assisted Listing Number #14.247.
Description: HUD SHOP Loans outstanding at July 1, 2023; Amount
$ 972,175;
SHOP funds received, ID# 18-3, amount $0;
Total Loans outstanding as reported on SEFA $ 972,175;
Less: Loans converted to grants during the fiscal year, Amount $-;
Less: Loans eligible for conversion to grants as of June 30, 2024
, ID# 12-1, amount $(222,175);
(verified as having met all federal compliance requirements), ID# 13-1, amount $(90,000);
Total HUD SHOP Loans for which there are continuing federal compliance requirements as of the year ended June 30, 2023 $ 660,000.
Other Loans Outstanding
For the fiscal year ended June 30, 2024, Catholic Charities Housing Services – Diocese of Yakima and Subsidiaries the Capital Magnet Fund loan balance was $750,000.