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 Uniform Guidance, where certain types of expnditures are not allowed or are limited to reimbursement. VNA Apartments, Inc. has elected to not use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: VNA Apartments, Inc. has elected not to use the 10-percent de minimus indirect cost rate allowed under Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of VNA Apartments, Inc., HUD Project No. 075-35451-PM, 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 Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of VNA Apartments, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of VNA Apartments, Inc.
Title: Summary of Significant Accounting Policies
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, where certain types of expnditures are not allowed or are limited to reimbursement. VNA Apartments, Inc. has elected to not use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: VNA Apartments, Inc. has elected not to use the 10-percent de minimus indirect cost rate allowed under Uniform Guidance.
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, where certain types of expenditures are not allowed or are limited as to reimbursement. VNA Apartments, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Subrecipient Payments
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, where certain types of expnditures are not allowed or are limited to reimbursement. VNA Apartments, Inc. has elected to not use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: VNA Apartments, Inc. has elected not to use the 10-percent de minimus indirect cost rate allowed under Uniform Guidance.
No federal awards were passed through to subrecipients during the year ended December 31, 2023.
Title: Loan Balance
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, where certain types of expnditures are not allowed or are limited to reimbursement. VNA Apartments, Inc. has elected to not use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: VNA Apartments, Inc. has elected not to use the 10-percent de minimus indirect cost rate allowed under Uniform Guidance.
As of December 31, 2023, the loan balance for CFDA #14.135, Mortgage Insurance – Rental Cooperative Housing for Moderate Income Families and Elderly Market Interest Rate program was $1,366,950.
Title: Oversight Agency
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, where certain types of expnditures are not allowed or are limited to reimbursement. VNA Apartments, Inc. has elected to not use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: VNA Apartments, Inc. has elected not to use the 10-percent de minimus indirect cost rate allowed under Uniform Guidance.
The U.S. Department of Housing and Urban Development is the federal oversight agency for the Organization.