Title: Loan/loan guarantee outstanding balances
Accounting Policies: NOTE 1 - BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards (the Schedule) includes thefederal grant activity of Senior Citizens' Y-House of Beaumont, Inc., HUD Project No. 114-EE019-NA-WAL, and is presented on the accrual basis of accounting. The information in theSchedule is presented in accordance with the requirements of Title 2 U.S. Code of FederalRegulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, andAudit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presentsonly a selected portion of the operations of Senior Citizens' Y-House of Beaumont, Inc., it isnot intended to and does not present the financial position, changes in net assets, or cashflows of Senior Citizens' Y-House of Beaumont, Inc.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
CAPITAL ADVANCE MORTGAGE NOTE (14.157) - Balances outstanding at the end of the audit period were 2267200.
Title: NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: NOTE 1 - BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards (the Schedule) includes thefederal grant activity of Senior Citizens' Y-House of Beaumont, Inc., HUD Project No. 114-EE019-NA-WAL, and is presented on the accrual basis of accounting. The information in theSchedule is presented in accordance with the requirements of Title 2 U.S. Code of FederalRegulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, andAudit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presentsonly a selected portion of the operations of Senior Citizens' Y-House of Beaumont, Inc., it isnot intended to and does not present the financial position, changes in net assets, or cashflows of Senior Citizens' Y-House of Beaumont, Inc.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Expenditures reported on the schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in OMB Circular A-122,Cost Principles for Non-profit Organizations, wherein certain types of expenditures are notallowable or are limited as to reimbursement.Senior Citizens' Y-House of Beaumont, Inc. has elected not to use the 10 percent de minimusindirect cost rate as allowed under the Uniform Guidance.
Title: NOTE 3 - MORTGAGE NOTE PAYABLE
Accounting Policies: NOTE 1 - BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards (the Schedule) includes thefederal grant activity of Senior Citizens' Y-House of Beaumont, Inc., HUD Project No. 114-EE019-NA-WAL, and is presented on the accrual basis of accounting. The information in theSchedule is presented in accordance with the requirements of Title 2 U.S. Code of FederalRegulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, andAudit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presentsonly a selected portion of the operations of Senior Citizens' Y-House of Beaumont, Inc., it isnot intended to and does not present the financial position, changes in net assets, or cashflows of Senior Citizens' Y-House of Beaumont, Inc.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The outstanding balance of the loan and loan guarantee program at December 31, 2022 withcontinuing compliance requirements which are reported as federal expenditures on theaccompanying schedule of expenditures of federal awards was $2,267,200.