Notes to SEFA
Accounting Policies: _BASIS OF PRESENTATION_The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Sunny View West, HUD Project No. CA390418201, under programs of the federal government for the year ended March 31, 2022. 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 the Project, it is not intended and does not present the financial position, changes in net assets, or cash flows of the Project._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 reimbursements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.