The accompanying consolidated schedules of expenditures of federal awards and state financial assistance presents the activity of all federal awards and state financial assistance programs of The Arc of Atlantic County, Inc. and Affiliates and Affiliates. The Organization is defined in Note 1 of the basic consolidated financial statements. The information in these schedules are 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) and New Jersey OMB’s Circular 15-08, Single Audit Policy for Recipients of Federal Grants, State Grants and State Aid. All federal awards and state financial assistance received directly from federal and state agencies, as well as federal awards and state financial assistance passed through other government agencies, are included on the consolidated schedules of expenditures of federal awards and state financial assistance.
Amounts reported in the accompanying schedules agree with amounts reported in the related financial reports. Awards and financial assistance revenues are reported in the Organization’s basic consolidated financial statements and presented as follows: Reconciliation of cash expensitures: Federal cash expenditures $375,241 Total Section 811 rental assistance: 375,521. Reconciliation of non-cash expenditured: Federal non-cash expenditures - debt obligatons $204,797, Federal non-cash expenditures - restricted mortgages $3,721,200, State non-cash expenditures - restricted mortgages $883,040, Local restricted mortgages $ 270,000, Total restricted mortgages: $4,874,240.
Amounts reported in the accompanying schedules agree with the amounts reported in the related financial reports.
Major programs are identified in the Schedule of Findings and Questioned Costs.
Each of the grantor agencies reserves the right to conduct additional audits of the Organization’s grant program for economy, efficiency and program results. However, the Organization’s administration does not believe such audits would result in material amounts of disallowed costs.
The below table represents the balances outstanding on mortgages and capital advances with U.S. Department of Housing and Urban Development as of June 30, 2025: Residental Alternatives - Atlantic, Inc $204,797, Village Housing Inc $521,500, Harding House, Inc $337,100, Atlantic County Homes $1,091,300, CHT Vision, Inc $1,771,300, Total U.S. Department of Housing an Urban Development Federal Loans outstanding :$3,925,997. The below table represents the balances outstanding on mortgages and capital advances with NJ Department of Human Services as of June 30, 2025: Atlantic County Homes $68,800, CHT Vision, Inc $76,770, Human Services State Loans outstanding : $145,570. The below table represents the balances outstanding on mortgages and capital advances with NJ Department of Community Affairs as of June 30, 2025: Atlantic County Homes $368,862, The Arc of Atlantic County Inc. $368,608, Total NJ Department of Community Affairs State Loan outstanding: $737,470.