Title: Note 1 Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of Pioneer Abodes, Ltd. (Organization) under programs of the federal government for the year ended June 30, 2023. 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 Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
De Minimis Rate Used: N
Rate Explanation: The Organization does not use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance, the Organization uses a negotiated rate, approved by the granting agency, for each grant.
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of Pioneer Abodes, Ltd. (Organization) under programs of the federal government for the year ended June 30, 2023. 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 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 accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of Pioneer Abodes, Ltd. (Organization) under programs of the federal government for the year ended June 30, 2023. 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 Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
De Minimis Rate Used: N
Rate Explanation: The Organization does not use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance, the Organization uses a negotiated rate, approved by the granting agency, for each grant.
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, wherein certain types of expenditures are not allowable or are limited to reimbursement.
Title: Note 3 Indirect Cost Rate
Accounting Policies: The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of Pioneer Abodes, Ltd. (Organization) under programs of the federal government for the year ended June 30, 2023. 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 Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
De Minimis Rate Used: N
Rate Explanation: The Organization does not use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance, the Organization uses a negotiated rate, approved by the granting agency, for each grant.
The Organization does not use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance, the Organization uses a negotiated rate, approved by the granting agency, for each grant.
Title: Note 4 US Department of Housing and Urban Development Loan Program
Accounting Policies: The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of Pioneer Abodes, Ltd. (Organization) under programs of the federal government for the year ended June 30, 2023. 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 Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
De Minimis Rate Used: N
Rate Explanation: The Organization does not use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance, the Organization uses a negotiated rate, approved by the granting agency, for each grant.
The Organization has received a loan funded by a program of U.S. Department of Housing and Urban Development. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. Such balance has been included in net assets as of June 30, 2023 as the loan was recorded as revenue in the year received. The Organization received no additional loans during the year ended June 30, 2023. The balance of the loan outstanding at June 30, 2023 is as follows: $1,297,200