Notes to SEFA
Title: RELATIONSHIP TO FINANCIAL STATEMENTS
Accounting Policies: The Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Entity has not elected to use the 10% de minimis indirect cost rate per Title 2 U.S. Code of Federal Regulations Part 200.
The information in this schedule is presented in accordance with the requirements of Title 2, U.S. Code of Federal Regulations (CFR) Part 200:516. Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in, the
Title: CAPITAL ADVANCE BALANCE
Accounting Policies: The Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Entity has not elected to use the 10% de minimis indirect cost rate per Title 2 U.S. Code of Federal Regulations Part 200.
Federal Expenditures for Program 14.157 include the $2,647,000 capital advance balance at the beginning of the audit period, and project rental assistance of $161,571. The Capital Advance balance at December 31, 2023 was also $2,647,000.