Notes to SEFA
Title: NON-CASH AWARDS
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis ofaccounting. Such expenditures are recognized following the cost principlescontained in the Uniform Guidance, wherein certain types of expenditures are notallowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The amount of Special Supplemental Nutrition Program for Women, Infant, andChildren reported on the schedule of expenditures includes support vouchers andbenefits distributed by ODA Community Development Corp. to certain eligibleparticipants. However, since the organization is only an agent to distribute thevouchers and benefits and is not actually a recipient of the voucher funds, theseproceeds and expenditures are not recognized in revenues and expenses forfinancial statement purposes. For the year ended June 30, 2022, such vouchersand benefits totaled $6,547,944.
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis ofaccounting. Such expenditures are recognized following the cost principlescontained in the Uniform Guidance, wherein certain types of expenditures are notallowable or are limited as to reimbursement.
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 grant activity of ODA Community Development Corp. underprograms of the federal government for the year ended June 30, 2022. Theinformation in this schedule is presented in accordance with the requirement ofTitle 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards(Uniform Guidance). Because the schedule presents only a selected portion of theoperations of ODA Community Development Corp., it is not intended to and doesnot present the financial position, changes in net assets or cash flows of ODACommunity Development Corp.
Title: SUBRECIPIENTS
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis ofaccounting. Such expenditures are recognized following the cost principlescontained in the Uniform Guidance, wherein certain types of expenditures are notallowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
ODA Community Development Corp. did not provide any federal awards tosubrecipients.