Title: Basis of Accounting
Accounting Policies: Expenditures reported on the schedule are reported on the modified 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. 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: Ebony House has not elected to use the 10 percent de minimis indirect cost rate covered in 2 CFR ?200.414
The accompanying schedule of expenditures of federal awards (schedule) includes Ebony House, Inc.s federal grant activity for the year ended June 30, 2022. 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 for Federal Awards (Uniform Guidance).
Title: Federal Assistance Listings (FAL) Number
Accounting Policies: Expenditures reported on the schedule are reported on the modified 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. 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: Ebony House has not elected to use the 10 percent de minimis indirect cost rate covered in 2 CFR ?200.414
The program titles and FAL numbers were obtained from the federal or pass-through grantor or the 2022 Federal Assistance Listings. When there was no-pass through number, the contract number was used.
Title: Forgivable Loan Outstanding
Accounting Policies: Expenditures reported on the schedule are reported on the modified 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. 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: Ebony House has not elected to use the 10 percent de minimis indirect cost rate covered in 2 CFR ?200.414
Included in the schedule of expenditures of federal awards is a forgivable loan for $250,000 provided by a Community Development Block Entitlement Grant that was passed through from City of Phoenix funded by the U.S. Department of Housing and Urban Development. This loan is included in the schedule of expenditures of federal awards because of the ongoing continuing compliance requirements established under the terms of the grant agreement. As of June 30, 2022, the outstanding loan balance related to FAL No. 14.218, Community Development Block Grants, is $25,000 and the beginning of the year balance was $37,500, which is the balance reported on the schedule of expenditures of federal awards.
Title: Subrecipients
Accounting Policies: Expenditures reported on the schedule are reported on the modified 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. 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: Ebony House has not elected to use the 10 percent de minimis indirect cost rate covered in 2 CFR ?200.414
Ebony House did not have any subrecipients for 2022.