The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of Centerstone of America, Inc. and subsidiaries (collectively, the "Corporation") under programs of the federal government for the period from July 1, 2025 through October 31, 2025. The information in this Schedule is presented in accordance with 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”).
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, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Corporation has elected to apply the de minimis indirect cost rate permitted under the Uniform Guidance, as revised effective October 1, 2024, of 15%. The applicable rate is determined based on the commencement date of each individual grant.
The Corporation had the following grant advances outstanding as of October 31, 2025, from the Supportive Housing Program through the U.S. Department of Housing and Urban Development for the construction and renovation of a group home facility. The Corporation also received grant advances from HOME Investment Partnership Program through the Housing and Neighborhood Development Department for construction of an affordable housing apartment community. Amount Program AL Grant ID outstanding U.S. Department of Housing and Urban Development – Supportive Housing Program 14.235 IL01B204001 $ 356,650 Housing and Neighborhood Development Department – HOME Investments Partnership Program 14.239 Kinser Flats 175,000 Total federal grant advances $ 531,650
There were no federal awards expended in the form of non-cash assistance and there were no loan guarantees outstanding at period end.
During the period from July 1, 2025 through October 31, 2025, the following insurance was in effect: Insurance type Amount Professional liability $ 2,000,000 Professional liability excess 2,000,000 Commercial general liability 2,000,000 Fiduciary liability 5,000,000 Directors’ and officers’ liability 5,000,000 Auto 1,000,000 Auto excess 1,000,000 Workers compensation 1,000,000 Commercial property 275,893,586 Employment practices liability 5,000,000