Title: Loan/loan guarantee outstanding balances
Accounting Policies: GENERALThe accompanying schedule of expenditures of federal and state awards (the Schedule) includes the federal grant activity of City Care, Inc. under the programs of the federal government for the years ending December 31, 2022, and 2021. The information in this schedule is presented in accordance with the requirements of (CFR) 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 City Care, Inc. it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization. NON-CASH BENEFITSAssistance to qualified individuals is provided in the form of counseling, food, life-skills, and reading assistance through the various federal grants received by the organization. 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 allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: City Care, Inc. does not use the 10% de Minimis indirect cost rate. Indirect costs are determined by contractual arrangement with the granting organization.
COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS (14.218) - Balances outstanding at the end of the audit period were 180000. COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS (14.218) - Balances outstanding at the end of the audit period were 497421. HOME INVESTMENT PARTNERSHIPS PROGRAM (14.239) - Balances outstanding at the end of the audit period were 1777933. HOME INVESTMENT PARTNERSHIPS PROGRAM (14.239) - Balances outstanding at the end of the audit period were 968999. HOUSING TRUST FUND (14.275) - Balances outstanding at the end of the audit period were 847988. HOUSING TRUST FUND (14.275) - Balances outstanding at the end of the audit period were 823914.
Title: Insurance Coverage
Accounting Policies: GENERALThe accompanying schedule of expenditures of federal and state awards (the Schedule) includes the federal grant activity of City Care, Inc. under the programs of the federal government for the years ending December 31, 2022, and 2021. The information in this schedule is presented in accordance with the requirements of (CFR) 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 City Care, Inc. it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization. NON-CASH BENEFITSAssistance to qualified individuals is provided in the form of counseling, food, life-skills, and reading assistance through the various federal grants received by the organization. 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 allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: City Care, Inc. does not use the 10% de Minimis indirect cost rate. Indirect costs are determined by contractual arrangement with the granting organization.
The organization maintains insurance coverage on properties in excess of $2,000,000.
Title: Loan Program Grants
Accounting Policies: GENERALThe accompanying schedule of expenditures of federal and state awards (the Schedule) includes the federal grant activity of City Care, Inc. under the programs of the federal government for the years ending December 31, 2022, and 2021. The information in this schedule is presented in accordance with the requirements of (CFR) 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 City Care, Inc. it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization. NON-CASH BENEFITSAssistance to qualified individuals is provided in the form of counseling, food, life-skills, and reading assistance through the various federal grants received by the organization. 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 allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: City Care, Inc. does not use the 10% de Minimis indirect cost rate. Indirect costs are determined by contractual arrangement with the granting organization.
Loan program funds totaling $5,218,834 have been provided through the U.S. Department of Housing and Urban Development by way of the Home Program, Community Development Block Grants, and the National Housing Trust Fund. These funds were used to develop affordable housing owned or operated by City Care, Inc. There is no repayment requirement for these funds as long as the properties continue to be used in the manner stipulated in the loan grant through the affordability period. Those affordability periods mature as follows: Amount Year$ 147,000 2026$ 468,840 2029$ 22,956 2032$ 259,988 2024$1,429,500 2042$ 132,649 2023$ 285,999 2028$ 180,000 2023$1,000,000 2058$ 671,902 2059$ 620,000 2027