Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes federal grant activity of Rose Housing, Inc. (the Organization) under programs of the federal government for the year ended June 30, 2022. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budget (OMB) Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations. Because the Schedule presents only a selected portion of the operations of Marla Manor, LLC, it is not intended to and does not present the financial position, changes in net assets or cash flows of Marla Manor, LLC. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in OMB Circular A-122, Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The amounts expensed by the Organization under Federal Programs are subject to audit by governmental agencies. The Organization believes that any liabilities arising from such audits will not have a material impact on the Organization's financial position.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.