The accompanying schedule of expenditures of federal awards includes the federal grant activity of The Woodlands Religious Community, Inc. dba Interfaith of The Woodlands (Interfaith). Interfaith accounts for all awards under federal programs on an accrual basis of accounting. The information in this schedule is presented in accordance with requirements of the OMB Compliance Supplement. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in, the preparation of Interfaith’s financial statements. Federal grant funds are considered to be earned to the extent of expenditures made under the provisions of the grant and, therefore, are received on a reimbursement basis from the federal program monitor.
Expenditures included in the schedule represent both direct costs and indirect costs. Interfaith uses the de minimus indirect cost rate allowed under the Uniform Guidance.
Expenditures included in the schedule may differ from amounts reflected in the financial reports submitted to grant awarding agencies for the following reasons: Expenses accrued at the end of Interfaith’s fiscal year may not be included in the financial reports submitted to grant awarding agencies until after year-end; and Differences may exist between grant periods and Interfaith’s accounting period.
Grants require the fulfillment of certain conditions set forth in grant agreements and are regularly monitored and reviewed by the grantors. Failure to satisfy the requirements of contract agreements could result in disallowed costs and return of funds to grantors. Management believes that Interfaith is in substantial compliance with grant provisions and requirements and that disallowed costs, if any, will not be significant to affect the amounts and disclosures in the financial statements.
Department ALN Amount 10.561 $885,794 93.575/93.596/93.667 $128,461 93.558 $4,011,478 $4,139,939 17.207 $461,352 17.225 $1,116,909 17.258 $2,758,131 17.259 $1,886,976 17.278 $1,823,808 17.801 $90,309 $8,137,485 TOTAL $13,163,218