Notes to SEFA
Accounting Policies: The above schedule of expenditures of federal and state awards includes the federal grant activity of Older American Housing in Spotswood, Inc. HUD Project No. 031-EE009 (the Project), and is presented on the accrual basis of accounting. 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. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in, the preparation of the financial
statements.
De Minimis Rate Used: N
Rate Explanation: During the year ended December 31, 2023, the Project did not elect to use the de minimis cost rate when allocating indirect costs to its federal and state program.