Notes to SEFA
Title: Capital Advance
Accounting Policies: General
The above schedule of expenditures of federal awards includes the federal grant activity of the
Northview Residences, Inc., HUD Project No. 102-HD031-WDD (the Organization).
Basis of Accounting
The accompanying schedule of expenditures of federal awards is presented using the same basis of
accounting as the financial statement. 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).
Therefore, some amounts presented in this schedule may differ from amounts presented in, or used
in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Organization did not elect to use the 10% De Minimis cost rate.
As of June 30, 2023, the Organization had a capital advance in the amount of $895,900. This capital
advance balance is included in the federal expenditures presented in the schedule above.