Notes to SEFA
Title: BASIS OF PRESENTATION
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: N
Rate Explanation: Theressa James
Manor, Inc. has elected not to use the 10-percent de minimus indirect cost rate allowed under the
Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal award activity
of Theressa James Manor, Inc., HUD Project No. 082-11119, and is presented on the accrual
basis of accounting. The information in this 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 Theressa James
Manor, Inc., it is not intended to and does not present the financial position, changes in net
assets, or cash flows of Theressa James Manor, Inc.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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: N
Rate Explanation: Theressa James
Manor, Inc. has elected not to use the 10-percent de minimus indirect cost rate allowed under the
Uniform Guidance.
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. Theressa James
Manor, Inc. has elected not to use the 10-percent de minimus indirect cost rate allowed under the
Uniform Guidance.
Title: U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT CAPITAL ADVANCE PROGRAM
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: N
Rate Explanation: Theressa James
Manor, Inc. has elected not to use the 10-percent de minimus indirect cost rate allowed under the
Uniform Guidance.
Theressa James Manor, Inc. has received a U.S. Department of Housing and Urban Development
(HUD) coinsured loan under Section 223(f). The loan balance outstanding at the beginning of the
year is included in the federal expenditures presented in the schedule. Theressa James Manor, Inc.
received no additional loans or capital advances during the current year. The balance of the capital
advance outstanding at June 30, 2023, consists of: See the Notes to the SEFA for chart/table