Audit 48279

Title: Loan/loan guarantee outstanding balances Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Community Enterprise Development Services (the "Organization") under programs of the federal government for the year ended September 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 the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization. Therefore, some amounts presented in thus schedule may differ from the amounts in or used in the preparation of basic financial statements.Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Subpart E - Cost Principles of the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement. Therefore, some amounts presented in the Schedule may differ from amountspresented in, or used in the preparation of, the basic financial statements or reports to federal agencies or pass-through granters. The Organization, acting as a subrecipient agent for the Colorado Housing and Finance Authority, administered a Coronavirus Relief Fund program in which beneficiaries in the community received grants. The total amount of funds disbursed during the year ended September 30, 2022 was $394,380. De Minimis Rate Used: N Rate Explanation: Community Enterprise Development Services has elected to not use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. Pass-through entity identifying numbers are presented where available and applicable. MICROLOAN PROGRAM (59.046) - Balances outstanding at the end of the audit period were 1628019. MICROLOAN PROGRAM (59.046) - Balances outstanding at the end of the audit period were 1628019. MICROLOAN PROGRAM (59.046) - Balances outstanding at the end of the audit period were 1628019. MICROLOAN PROGRAM (59.046) - Balances outstanding at the end of the audit period were 1628019. MICROLOAN PROGRAM (59.046) - Balances outstanding at the end of the audit period were 1628019.