Title: CAPITAL ADVANCES
Accounting Policies: BASIS OF PRESENTATION The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal grant activity of Chicago House and Social Service Agency and Fred Woods Home, Inc.’s owned and operated F.H.A. Project. Nos. 071-HD024/IL06-Q933-001 and 071-HD152/IL06-Q051-005, under programs of the federal government for the year ended June 30, 2023. The information in the 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 Chicago House and Social Service Agency and Fred Woods Home, Inc., it is not intended to and does not present the financial position, changes in net assets or cash flows of Chicago House and Social Service Agency and Fred Woods Home, Inc. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures 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 Organizations have elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Fred Woods Home, Inc. had the following capital advances at June 30, 2023. These capital advances outstanding are also included in the federal expenditures presented in the schedule.
HUD Project Number Federal CFDA Number Program Title Amount Outstanding
071-HD024 14.181 Section 811 $ 1,119,900
071-HD152 14.181 Section 811 975,800
$ 2,095,700
Title: SUBRECIPIENTS
Accounting Policies: BASIS OF PRESENTATION The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal grant activity of Chicago House and Social Service Agency and Fred Woods Home, Inc.’s owned and operated F.H.A. Project. Nos. 071-HD024/IL06-Q933-001 and 071-HD152/IL06-Q051-005, under programs of the federal government for the year ended June 30, 2023. The information in the 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 Chicago House and Social Service Agency and Fred Woods Home, Inc., it is not intended to and does not present the financial position, changes in net assets or cash flows of Chicago House and Social Service Agency and Fred Woods Home, Inc. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures 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 Organizations have elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Of the federal expenditures presented in the Schedule, Chicago House and Social Service Agency and Fred
Woods Home, Inc. provided federal awards to subrecipients for the year ended June 30, 2023 as follows:
Program Title Federal CFDA Number Amount
HIV Demonstration, Research, Public and Professional Education Projects 93.941 $285
Title: OTHER MATTERS
Accounting Policies: BASIS OF PRESENTATION The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal grant activity of Chicago House and Social Service Agency and Fred Woods Home, Inc.’s owned and operated F.H.A. Project. Nos. 071-HD024/IL06-Q933-001 and 071-HD152/IL06-Q051-005, under programs of the federal government for the year ended June 30, 2023. The information in the 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 Chicago House and Social Service Agency and Fred Woods Home, Inc., it is not intended to and does not present the financial position, changes in net assets or cash flows of Chicago House and Social Service Agency and Fred Woods Home, Inc. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures 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 Organizations have elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Amount of non-cash assistance: None
Amount of insurance assistance received: None
Amount of loans: None
Amount of loan guarantees: None