Note 1 - Basis of presentation The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Égida Ryder, Inc. (A Nonprofit Corporation), HUD Project No. 056-EH-337, and is presented in the basis of accounting required by the US Department of Housing and Urban Development. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance, Audit of States, Local Governments, and Non-profit Organizations and with US Department of Housing and Urban Development requirements for Section 8. Therefore, some amounts presented in this schedule may differ from accounts presented in, or used in the basic financial statements, which are prepared in accordance to accounting principles of generally accepted in the United States of America. The reconciliation between total expenses per Statement of Activities with expenditures reported in the Schedule of Expenditures of Federal Awards follows: Total expenses per Statement of Activities $ 523,555 Deduct: depreciation expense (70,043) Add: capital advance under Section 202 2,522,500 Deduct: difference between Section 8 Housing Assistance payments and total expenses excluding depreciation (53,446) Total expenditures per Schedule of Expenditures of Federal Financial Assistance Awards $ 2,922,566
The Schedule has been prepared using the accrual basis of accounting and Not-for-Profit Organizations Audit and Accounting Guide. It is drawn primarily from Organization’s internal accounting records and are following the cost principles contained in the Uniform Guidance, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The information included in the Schedule may not fully agree with other federal awards reports, submitted directly to federal grantor agencies because, among other reasons, the award report may (a) be prepared for a different fiscal period and (b) include cumulative data (from prior years) rather than data from the current year only.
The AL numbers included in this Schedule were determined based on the program name, review of pass-through grant contracts information and the Office of Management and Budget’s Catalog of Federal Domestic Assistance.
Major program is identified in the Summary of auditor results section of the Schedule of findings and questioned costs on page 33.
To charge indirect costs to a federal award, the Project has not prepared or submitted an indirect cost proposal as permitted by CFR 200.414 of the Uniform Guidance, nor elected to use the 10% minimis indirect cost rate.