The accompanying Schedule of Expenditures of Federal Awards ( the "Schedule" ) is a supplementary schedule to Community Connection of Northeast Oregon, Inc.'s financial statements and is presented for purposes of additional analysis. Because the Schedule presents only a selected portion of the activities of Community Connection of Northeast Oregon, Inc., it is not intended to and does not present either the financial position, results of operations, or changes in net assets of Community Connection of Northeast Oregon, Inc.
Reporting Entity The reporting entity is fully described in Note 1 to Community Connection of Northeast Oregon Inc.'s basic financial statements. The Schedule includes all federal programs administered by Community Connection of Northeast Oregon, Inc. for the year ended June 30, 2025. Basis of Presentation The accompanying Schedule includes the federal award activity of the Community Connection of Northeast Oregon, Inc. under programs of the federal government for the year ended June 30, 2025. The information in the 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). Because the Schedule presents only a selected portion of the operations of the entity, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Community Connection of Northeast Oregon, Inc. Federal Financial Assistance Pursuant to the Single Audit Act and the Uniform Guidance, federal financial assistance is defined as assistance provided by a federal agency, either directly or indirectly, in the form of grants, contracts, cooperative agreements, loans, loan guarantees, property, interest subsidies, insurance or direct appropriations. Accordingly, nonmonetary federal assistance, including federal surplus property, is included in federal financial assistance and, therefore, is reported on the Schedule, if applicable. Federal financial assistance does not include direct federal cash assistance to individuals. Solicited contracts between Community Connection of Northeast Oregon, Inc. and the federal government for which the federal government procures tangible goods or services are not considered to be federal financial assistance. Major Programs The Single Audit Act and the Uniform Guidance establish criteria to be used in defining major programs. Major programs for Community Connection of Northeast Oregon, Inc. are those programs selected for testing by the auditor using a risk-assessment model, as well as certain minimum expenditure requirements, as outlined in the Uniform Guidance. Programs with similar requirements may be grouped into a cluster for testing purposes. Basis of Accounting Federal awards are reported using the accrual basis of accounting. Revenues are recorded when earned and expenditures are recorded at the time liabilities are incurred. 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. Insurance Coverage For the fiscal year ended June 30, 2025, Community Connection of Northeast Oregon, Inc. had insurance coverage in effect comparable to other entities of similar size and circumstance. Indirect Cost Rate Community Connection of Northeast Oregon, Inc. has elected not to use the 15% de minimis indirect cost rate as allowed under the Uniform Guidance. Instead, the entity has elected to apply actual indirect costs incurred in accordance with its approved indirect costs rate agreement or allocation methodology.
Federal Funds Revolving Funds Total Balance, July 1, 2024 $ 1,949,143 $ 407,980 $ 2,357,123 Passed through to Grant County (62,500) - (62,500) New loans made 112,530 69,787 182,317 Subtotal 1,999,173 477,767 2,476,940 Loan adjustments 200 - 200 Principal payments received 24-25 (126,568) (24,407) (150,975) Balance, June 30, 2025 $ 1,872,805 $ 453,360 $ 2,326,165