Notes to SEFA
Accounting Policies: Basis of PresentationThe accompanying schedule of expenditures of federal awards includes the federal grant activity of the Casa Real IV Apartments and is presented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements.Sub-recipientsDuring the year ended September 30, 2022, Casa Real IV Apartments had no sub-recipients.Federal Loans and Loan GuaranteesDuring the year ended September 30, 2022, Casa Real IV Apartments had a HUD insured mortgage payable.Federally Funded InsuranceDuring the year ended September 30, 2022, Casa Real IV Apartments had no federally funded insurance.Noncash AwardsDuring the year ended September 30, 2022, Casa Real IV Apartments did not have any federal awards in the form of noncash assistance.Indirect Cost RateThe Uniform Guidance allows an organization to elect a 10% de minimus indirect cost rate. For the year ended September 30, 2022, the Casa Real IV Apartments did not elect to use this rate.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.