Notes to SEFA
Title: NOTE A - 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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Cape Cod Apartments, Inc. has elected not to use the 10% de minimums indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Cape Cod Apartments, Inc. under programs of the federal government for the year ended December 31, 2023. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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 operations of Cape Cod Apartments, Inc., it is not intended to and does not represent the financial position, changes in net assets, or cash flows of Cape Cod Apartments, Inc.Type A programs are determined to be the larger of $750,000 or three (3) percent of total federal awards expended if total awards exceed $750,000. There were no awards received that were passed through to sub-recipients.
Title: NOTE D - FEDERAL AWARDS EXPENDED FOR LOAN OR LOAN GUARANTEE PROGRAMS:
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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Cape Cod Apartments, Inc. has elected not to use the 10% de minimums indirect cost rate allowed under the Uniform Guidance.
Balances of loan and loan guarantee programs outstanding as of December 31, 2023 for loans is as areas follows $8,937,056 .