Title: NOTE A – BASIS OF PRESENTATION
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal award
activity of Omaha 100 Incorporated under programs of the federal government for the year
ended December 31, 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 of 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 financial statements.
De Minimis Rate Used: N
Rate Explanation: The entity has elected not to
use the 15% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal award
activity of Omaha 100 Incorporated under programs of the federal government for the year
ended December 31, 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 of 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 financial statements. The entity has elected not to
use the 15% de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: NOTE B – TYPE A PROGRAM THRESHOLD
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal award
activity of Omaha 100 Incorporated under programs of the federal government for the year
ended December 31, 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 of 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 financial statements.
De Minimis Rate Used: N
Rate Explanation: The entity has elected not to
use the 15% de minimis indirect cost rate as allowed under the Uniform Guidance.
The threshold of Type A and Type B programs was $750,000 for the year ended December 31,
2024.
Title: NOTE C – MAJOR PROGRAM
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal award
activity of Omaha 100 Incorporated under programs of the federal government for the year
ended December 31, 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 of 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 financial statements.
De Minimis Rate Used: N
Rate Explanation: The entity has elected not to
use the 15% de minimis indirect cost rate as allowed under the Uniform Guidance.
ALN
Number
Program Name
21.033 CDFI Equitable Recovery Program (CDFI ERP)
Title: NOTE D – RECONCILIATION TO THE FINANCIAL STATEMENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal award
activity of Omaha 100 Incorporated under programs of the federal government for the year
ended December 31, 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 of 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 financial statements.
De Minimis Rate Used: N
Rate Explanation: The entity has elected not to
use the 15% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes federal award
activity of the Organization and is presented on the accrual basis of accounting. The amounts
reported in the SEFA are based on when the federal funds were expended in accordance with
the Uniform Guidance, which includes capitalizing loan funds.
The Organization received $1,154,606 under the Community Development Financial Institutions
(CDFI) Program (ALN 21.033) during the year ended December 31, 2024, which was used to
capitalize a loan pool. These funds were not recorded as an expense in the financial statements
but were instead capitalized as loans receivable. Accordingly, the following is a reconciliation:
Description Amount
Loans issued (capitalized) $ 1,895,262
Funds expended 35,000
Total federal expenditures per SEFA $ 1,930,262