Notes to SEFA
Title: NOTE A. BASIS OF PRESENTATION
Accounting Policies: NOTE B. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures 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. TheJewish Home Tower, Inc. has elected not to use the 10 percent de minimis indirect cost rateallowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federalaward activity of The Jewish Home Tower, Inc. under programs of the federal government for theyear ended June 30, 2022. The information in this Schedule is presented in accordance with therequirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).Because the Schedule presents only a selected portion of the operations of The Jewish HomeTower, Inc., it is not intended to and does not present the financial position, changes in net assets,or cash flows of The Jewish Home Tower, Inc.
Title: NOTE C. U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT LOAN PROGRAM
Accounting Policies: NOTE B. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures 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. TheJewish Home Tower, Inc. has elected not to use the 10 percent de minimis indirect cost rateallowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Jewish Home Tower, Inc. has received a U.S. Department of Housing and Urban Developmentinsured loan under Section 223(f) of the National Housing Act. The loan balance outstanding at thebeginning of the year is included in the federal expenditures presented in the schedule. The JewishHome Tower, Inc. received no additional loans during the year. The balance of the loan outstandingat June 30, 2022 consists of:OutstandingBalance atCFDA Number Program Name June 30, 202214.155 Section 223(f) Insured Loan $ -