Notes to SEFA
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, wherein certain types of expenditures are not allowable or are limited as to reimbursement. SNAP’s Cost Allocation Policy is based on the Direct Allocation method described in 2 CFR 200 Appendix IV B.4. This Direct Allocation Method treats all costs as direct costs except general administration and general expenses. SNAP did not elect to use the 10% de minimis rate.
De Minimis Rate Used: N
Rate Explanation: The entity did not utilize the de minimis cost rate.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Spokane Neighborhood Action Partners 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 Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements
Title: Federal 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, wherein certain types of expenditures are not allowable or are limited as to reimbursement. SNAP’s Cost Allocation Policy is based on the Direct Allocation method described in 2 CFR 200 Appendix IV B.4. This Direct Allocation Method treats all costs as direct costs except general administration and general expenses. SNAP did not elect to use the 10% de minimis rate.
De Minimis Rate Used: N
Rate Explanation: The entity did not utilize the de minimis cost rate.
The federal loan programs listed subsequently are administered directly by SNAP, and balances and transactions relating to these programs are included in SNAP’s basic financial statements. Loans outstanding at the beginning of the year and loans made during the year are included in the federal expenditures presented in the Schedule of Expenditures of Federal Awards.NOTE 3 FEDERAL LOANS (CONTINUED)
The balance of loans outstanding at December 31, 2024, consist of:
Balance Balance AssistanceTotal OutstandingOutstandingFDListingAward Authorized at End at Beginning NumberNumberNumberPeriod of AwardLoanof Yearof YearU.S. Department of Housing and Urban DevelopmentPassed through Washington State Department of CommerceRiverwalk Point I53814.23902-40420-00312/31/06-12/31/521,086,611 1,013,156 1,049,975 Riverwalk Point I53814.23902-40420-00312/31/06-12/31/28248,093 91,815 105,952 Passed through City of Spokane Department of Community DevelopmentPatrician Apartments50714.239OPR 94-25103/22/94-12/31/24197,500 - 197,500 Passed through Spokane County Housing and RWPII HOME Loan50914.23906-16A01/01/08-05/31/49200,000 125,000 125,000 United States Department of AgricultureWoodhaven USDA RRH Loan80210.415Case#56-033-58624555212/09/02-05/31/34177,732 130,069 133,970 Wilbur USDA RRH Loan80310.415Case#56-22-133-786809/22/1981-09/22/31570,000 300,811 305,679