Title: Basis of presentation
Accounting Policies: The accompanying schedule of federal awards includes the federal grant activity of the Northwest
Side Housing Center and is presented on the accrual basis of accounting. The information in this
schedule is presented in accordance with the requirements of Title 2 U.S Code of Federal Regulations
(CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements of
Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts
presented in or used in preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee opted not to use the de minimus cost rate.
The accompanying schedule of federal awards includes the federal grant activity of the Northwest
Side Housing Center and is presented on the accrual basis of accounting. The information in this
schedule is presented in accordance with the requirements of Title 2 U.S Code of Federal Regulations
(CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements of
Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts
presented in or used in preparation of the basic financial statements.
Title: Basis of accounting
Accounting Policies: The accompanying schedule of federal awards includes the federal grant activity of the Northwest
Side Housing Center and is presented on the accrual basis of accounting. The information in this
schedule is presented in accordance with the requirements of Title 2 U.S Code of Federal Regulations
(CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements of
Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts
presented in or used in preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee opted not to use the de minimus cost rate.
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 as to reimbursement. Negative amounts
shown on the Schedule represent adjustments or credits made in the normal course of business to
amounts reported as expenditures in prior years. The Corporation has elected to not use the 10-
percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: Subrecipients
Accounting Policies: The accompanying schedule of federal awards includes the federal grant activity of the Northwest
Side Housing Center and is presented on the accrual basis of accounting. The information in this
schedule is presented in accordance with the requirements of Title 2 U.S Code of Federal Regulations
(CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements of
Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts
presented in or used in preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee opted not to use the de minimus cost rate.
Of the federal expenditures presented in the schedule, Illinois Action for Children provided the
following federal awards to subrecipients:
U.S. Department of the Treasury
Northwest Side Community Development Corporation $351,053
Title: Indirect Cost Rate
Accounting Policies: The accompanying schedule of federal awards includes the federal grant activity of the Northwest
Side Housing Center and is presented on the accrual basis of accounting. The information in this
schedule is presented in accordance with the requirements of Title 2 U.S Code of Federal Regulations
(CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements of
Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts
presented in or used in preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee opted not to use the de minimus cost rate.
The Center has elected not to use the 10 percent de minimis cost rate.
Title: Loans and loan guarantees
Accounting Policies: The accompanying schedule of federal awards includes the federal grant activity of the Northwest
Side Housing Center and is presented on the accrual basis of accounting. The information in this
schedule is presented in accordance with the requirements of Title 2 U.S Code of Federal Regulations
(CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements of
Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts
presented in or used in preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee opted not to use the de minimus cost rate.
The Center did not have any outstanding federal loans or loan guarantees for the year ended
December 31, 2023.
Title: Insurance
Accounting Policies: The accompanying schedule of federal awards includes the federal grant activity of the Northwest
Side Housing Center and is presented on the accrual basis of accounting. The information in this
schedule is presented in accordance with the requirements of Title 2 U.S Code of Federal Regulations
(CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements of
Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts
presented in or used in preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee opted not to use the de minimus cost rate.
The Center did not have federal insurance for the year ended December 31, 2023.
Title: Noncash assistance
Accounting Policies: The accompanying schedule of federal awards includes the federal grant activity of the Northwest
Side Housing Center and is presented on the accrual basis of accounting. The information in this
schedule is presented in accordance with the requirements of Title 2 U.S Code of Federal Regulations
(CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements of
Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts
presented in or used in preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee opted not to use the de minimus cost rate.
The Center neither received nor disbursed federal awards in the form of nonmonetary assistance for
the year ended December 31, 2023.