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SANTA ANA EMPOWERMENT CORPORATION <br />Note to the Schedule of Expenditures of Federal Awards <br />Year Ended June 30, 2010 <br />(1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES <br />(a) Scope of Presentation <br />The accompanying schedule presents only the expenditures incurred by the Santa Ana Empowerment <br />Corporation (Organization) that are reimbursable under federal programs for federal financial <br />assistance. For purposes of this schedule, federal awards include federal financial assistance received <br />from the Department of Housing and Urban Development (HUD) through the City of Santa Ana. Only <br />the portion of program expenditures reimbursable with such federal funds is reported in the <br />accompanying schedule. <br />(b) Basis of Accounting <br />The expenses included in the accompanying schedule were reported on the accrual basis of accounting, <br />which is described in Note (1) to the Organization's financial statements. Expenses reported include <br />any property or equipment acquisitions incurred under the federal program. <br />(c) Subrecipients <br />During the fiscal year ended June 30, 2010, the Organization made the following payments to <br />subrecipients: <br />The Cambodian Family $ 304,146 <br />El Puente CDC (Kidwojks) 116,136 <br />Santa Ana WORK Center - Daisy Wheel 520 <br />Total $ 420,802 <br />19G-25