Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal awards activity of Friends Rehabilitation Program, Inc. and Affiliates under programs of the federal government for the year ended May 31, 2022. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and the City of Philadelphia Subrecipient Audit Guide. Because the Schedule presents only a selected portion of the operations of Friends Rehabilitation Program, Inc. and Affiliates, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Friends Rehabilitation Program, Inc. and Affiliates. Expenditures, except for federally funded and insured mortgages in Note E, 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 and/or OMB Circular A-122, Cost Principles for Non-Profit Organizations and the City of Philadelphia Subrecipient Audit Guide, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
SUPPORTIVE HOUSING FOR THE ELDERLY (14.157) - Balances outstanding at the end of the audit period were $99,086. COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS (14.218) - Balances outstanding at the end of the audit period were $2,176,043.
Title: RELATIONSHIP TO BASIC CONSOLIDATED FINANCIAL STATEMENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal awards activity of Friends Rehabilitation Program, Inc. and Affiliates under programs of the federal government for the year ended May 31, 2022. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and the City of Philadelphia Subrecipient Audit Guide. Because the Schedule presents only a selected portion of the operations of Friends Rehabilitation Program, Inc. and Affiliates, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Friends Rehabilitation Program, Inc. and Affiliates. Expenditures, except for federally funded and insured mortgages in Note E, 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 and/or OMB Circular A-122, Cost Principles for Non-Profit Organizations and the City of Philadelphia Subrecipient Audit Guide, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Federal awards expenditures are reported on the consolidated statements of activities as program services expenses. In certain programs, the expenditures reported in the basic consolidated financial statements may differ from the expenditures reported in the schedule of expenditures of federal awards due to program expenditures exceeding grant or contract budget limitations which are not included as federal awards.