Notes to SEFA
The accompanying combined schedule of expenditures of federal awards and combined schedule of expenditures of state awards include the Federal and State Award activities of Triple C Housing, Inc. and Affiliates under programs of the federal government and state agencies for the year ended June 30, 2025 The information in these schedules is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, Audit Requirements for Federal Awards (“Uniform Guidance”) and New Jersey OMB Circular 15-08. Because the schedules present only selected portions of the operations of Triple C Housing, Inc. and Affiliates, it is not intended to and does not present the combined financial position, combined changes in net assets, or cash flows of the Organization.
Triple C Housing, Inc. and Affiliates had loan balances outstanding at June 30, 2025. Loan proceeds expended during the year are included in the Schedules of Expenditures of Federal and State Awards. Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and the State of New Jersey, Department of Human Services, Contract Reimbursement Manual, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Amounts reported in the accompanying schedules agree, with reconciling differences, to the amounts reported to the State of New Jersey, Division of Mental Health and Addiction Services by the Organization on its final Report of Expenditures (“ROE”).
The Organization applies indirect cost rates for each federal award as specified in the grant agreements/contracts and does not uniformly elect the 10% de-minimus indirect cost rate as discussed in CFR 200.414 paragraph (f) across all federal awards received.