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 OMB Circular A-122.
De Minimis Rate Used: N
Rate Explanation: The Corporation did not elect to use the 10 percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal
award activity of Moore Street Seniors, Inc. (the Corporation) under programs of federal government
for the year ended June 30, 2023. 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 operation of the the Corporation, it is not
intended to and does not present the financial position, changes in net assets, or cash flows of the the
Corporation.
Title: CAPITAL ADVANCE
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 OMB Circular A-122.
De Minimis Rate Used: N
Rate Explanation: The Corporation did not elect to use the 10 percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
At June 30, 2023, Moore Street Seniors, Inc had the following capital advance outstanding. The capital advance is also included in the federal expenditures presented. Program or Cluster Title: Supportive Housing for the Elderly (Section 202); Federal Assistance Listing Number: 14.157; Amount Outstanding: $1,506,226