Title: Note 4: Subrecipients
Accounting Policies: Note 1.Basis of PresentationThe accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of The Childrens Home Association of Illinois (the Association) 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 the Association, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Association.Note 2.Summary of Significant Accounting PoliciesExpenditures 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.
De Minimis Rate Used: Y
Rate Explanation: The Association has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
None of the federal expenditures presented in the Schedule were provided to subrecipients during the year ended June 30, 2022.
Title: Note 5: Non-Cash Assistance
Accounting Policies: Note 1.Basis of PresentationThe accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of The Childrens Home Association of Illinois (the Association) 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 the Association, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Association.Note 2.Summary of Significant Accounting PoliciesExpenditures 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.
De Minimis Rate Used: Y
Rate Explanation: The Association has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Federal expenditures for the National School Lunch Program (Assistance Listing Number No. 10.555) include the value of donated commodities received from the U.S. Department of Agriculture (USDA). The commodities were valued based on USDA price lists.
Title: Note 6: Amount of Insurance
Accounting Policies: Note 1.Basis of PresentationThe accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of The Childrens Home Association of Illinois (the Association) 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 the Association, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Association.Note 2.Summary of Significant Accounting PoliciesExpenditures 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.
De Minimis Rate Used: Y
Rate Explanation: The Association has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The Association did not receive any federal awards involving insurance with continuing compliance requirements.
Title: Note 7: Loans Outstanding
Accounting Policies: Note 1.Basis of PresentationThe accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of The Childrens Home Association of Illinois (the Association) 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 the Association, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Association.Note 2.Summary of Significant Accounting PoliciesExpenditures 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.
De Minimis Rate Used: Y
Rate Explanation: The Association has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The Association did not have any loan balances outstanding as of June 30, 2022, relating to any of the programs included in the federal expenditures presented in the Schedule.