Title: Note 1 - Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Su Casa Community Housing Association under programs of the federal government for the year ended December 31, 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 Su Casa Community Housing Association, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Su Casa Community Housing Association.
De Minimis Rate Used: Y
Rate Explanation: Su Casa Community Housing Association has elected to use the 10-percent de minimis indirect cost rate as allowed
under Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Su Casa Community Housing Association under programs of the federal government for the year ended December 31, 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 Su Casa Community Housing Association, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Su Casa Community Housing Association.
Title: Note 2 - Summary of Significant Accounting Policies:
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Su Casa Community Housing Association under programs of the federal government for the year ended December 31, 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 Su Casa Community Housing Association, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Su Casa Community Housing Association.
De Minimis Rate Used: Y
Rate Explanation: Su Casa Community Housing Association has elected to use the 10-percent de minimis indirect cost rate as allowed
under Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the OMB Circular A-122, Cost Principles for Nonprofit Organizations or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass through entity identifying numbers are presented where available. Su Casa Community Housing Association has elected to use the 10-percent de minimis indirect cost rate as allowed
under Uniform Guidance.
Title: Note 3 - Loan Program
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Su Casa Community Housing Association under programs of the federal government for the year ended December 31, 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 Su Casa Community Housing Association, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Su Casa Community Housing Association.
De Minimis Rate Used: Y
Rate Explanation: Su Casa Community Housing Association has elected to use the 10-percent de minimis indirect cost rate as allowed
under Uniform Guidance.
The following is the activity of the loan payable for the year ended December 31, 2023: Assistance Listing Number: 14.155; Program Name: Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects: Loans outstanding December 31, 2022 $1,760,592; Loans Awarded for the Year Ended December 31, 2022 $0; Loan Principal Repaid for the Year Ended December 31, 2022 $(40,824); Loans Outstanding December 31, 2023 $1,719,768