Title: LOAN/LOAN GUARANTEE OUSTANDING BALANCES
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal spending Hubbard House, Inc. (the Organization) and it presented on the accrual basis of accounting. The information in this 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of, the basic financial statements. Because the schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not represent the financial position of the Organization.
De Minimis Rate Used: Y
Rate Explanation: The Uniform Guidance allows an organization to elect a 10% de minumus indirect cost rate. During the year ended June 30, 2022, the Organization did elected to use the allowed 10% indirect cost rate.
The Organization did not have any federal loans or loan guarantees outstanding during the year ended June 30, 2022.
Title: SUBRECIPIENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal spending Hubbard House, Inc. (the Organization) and it presented on the accrual basis of accounting. The information in this 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of, the basic financial statements. Because the schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not represent the financial position of the Organization.
De Minimis Rate Used: Y
Rate Explanation: The Uniform Guidance allows an organization to elect a 10% de minumus indirect cost rate. During the year ended June 30, 2022, the Organization did elected to use the allowed 10% indirect cost rate.
During the year ended June 30, 2022, the Organization had no subrecipients.
Title: NONCASH ASSISTANCE AND OTHER
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal spending Hubbard House, Inc. (the Organization) and it presented on the accrual basis of accounting. The information in this 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of, the basic financial statements. Because the schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not represent the financial position of the Organization.
De Minimis Rate Used: Y
Rate Explanation: The Uniform Guidance allows an organization to elect a 10% de minumus indirect cost rate. During the year ended June 30, 2022, the Organization did elected to use the allowed 10% indirect cost rate.
The Organization did not receive any noncash assistance of federal funded insurance during the year ended June 30, 2022.
Title: CONTINGENCIES
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal spending Hubbard House, Inc. (the Organization) and it presented on the accrual basis of accounting. The information in this 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of, the basic financial statements. Because the schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not represent the financial position of the Organization.
De Minimis Rate Used: Y
Rate Explanation: The Uniform Guidance allows an organization to elect a 10% de minumus indirect cost rate. During the year ended June 30, 2022, the Organization did elected to use the allowed 10% indirect cost rate.
Grants monies received and disbursed by the Organization are for specific purposes and are subject to review by the grantor agencies. Such audits may result in requests for reimbursement due to disallowed expenditures. Based upon experience, the Organization does not believe that such disallowance, if any, would have a material effect on the financial position of the Organization.
Title: FEDERAL PASS-THROUGH ENTITIES
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal spending Hubbard House, Inc. (the Organization) and it presented on the accrual basis of accounting. The information in this 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of, the basic financial statements. Because the schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not represent the financial position of the Organization.
De Minimis Rate Used: Y
Rate Explanation: The Uniform Guidance allows an organization to elect a 10% de minumus indirect cost rate. During the year ended June 30, 2022, the Organization did elected to use the allowed 10% indirect cost rate.
The Organization is also the sub-recipient of federal funds that have been subjected to testing and are reported as expenditures and listed as federal pass-through funds. Federal awards other than those indicated as pass-through are considered to be direct.