Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: 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. Any negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Passthrough entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. 1736 Family Crisis Center has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS (14.218) - Balances outstanding at the end of the audit period were 756530. During the year ended June 30, 2014, developments and milestones occurred regarding the construction of a new youth center in West Los Angeles which allowed the conditional non-interest-bearing loan payable to the Los Angeles Housing & Community Investment Department (Grant 114713) to be converted to a grant with donor restrictions and thus classified as net assets with donor restrictions. As of June 30, 2022, outstanding federally-funded net assets with donor restrictions, with continuing compliance requirements, are as follows: CFDA No. 14.218, Community Development Block Grants- Entitlement Grants Cluster, Outstanding Net Assets with Donor Restrictions total $756,530, and Net Assets with Donor Restrictions with Continuing Compliance Requirements amount to $856,530.
Title: Basis of Presentation
Accounting Policies: 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. Any negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Passthrough entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. 1736 Family Crisis Center has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of 1736 Family Crisis Center under programs of the federal government for the year ended June 30, 2022. The information in this schedule is presented in accordance with the audit 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 1736 Family Crisis Center, it is not intended to and does not present the financial position, changes in net assets, or cash flows of 1736 Family Crisis Center.