Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis (or list other basis) of accounting. Such expenditures are recognized following, as applicable, either the cost principles contained in OMB Circular A-122, Cost Principles for Not-For-Profit Organizations, or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Catholic Charities Community Services, Inc. and Subsidiaries has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Catholic Charities Community Services, Inc. and Subsidiaries had the following loan balances outstanding at June 30, 2022. Loans outstanding at the beginning of the year, as well as new loans established during the year ended June 30, 2022, are included in the federal expenditures presented in the accompanying Schedule of Expenditures of Federal Awards. The balances of loans outstanding at June 30, 2022 consists of: COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS (14.218) - $4,145,393. COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS (14.218) - $784,047. HOME INVESTMENT PARTNERSHIPS PROGRAM (14.239) - $1,660,000.
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis (or list other basis) of accounting. Such expenditures are recognized following, as applicable, either the cost principles contained in OMB Circular A-122, Cost Principles for Not-For-Profit Organizations, or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Catholic Charities Community Services, Inc. and Subsidiaries has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Catholic Charities Community Services, Inc. and Subsidiaries under programs of the federal government for the year ended June 30, 2022. 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). Because the Schedule presents only a selected portion of the operations of Catholic Charities Community Services, Inc. and Subsidiaries, it is not intended to and does not present the consolidated financial position, changes in net assets or cash flows of Catholic Charities Community Services, Inc. and Subsidiaries. Catholic Charities Community Services, Inc. and Subsidiaries did not provide federal awards to sub-recipeints during the year ended June 30, 2022.