Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Problems Anonymous Action Group 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) and is reported on the accrual basis of accounting. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Management has elected to use the 10% de Minimis indirect cost rate for certain costs.
Problems Anonymous Action Group, had the following loan balances outstanding at December 31, 2024: Home Investment Partnership Program and the Housing Trust Fund in the combined amount of $1,399,843 (See Note 4 – Long-Term Debt). The loan balance outstanding is included in the federal expenditures presented in the schedule.