Notes to SEFA
Title: NOTE 3 - LOAN BALANCES
Accounting Policies: The schedule of expenditures of federal awards presents the activity of federal award programs administered by Northwest Estates 811, which is described in the footnotes to the Organization’s accompanying financial statements, using the accrual basis of accounting. Federal awards that are included in the schedule may be received directly from federal agencies, as well as federal awards that are passed through from other government agencies. 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). Therefore, some amounts presented in this schedule may differ from the amounts presented in, or used in the preparation of, the basic financial statements. Because the schedule presents only a selected portion of the operations of Northwest Estates 811, it is not intended to and does not present the financial position, changes in net assets or cash flows of Northwest Estates 811.
De Minimis Rate Used: N
Rate Explanation: Northwest Estates 811 has not elected to use the 10% de minimis indirect cost rate.
Northwest Estates 811 received federal loans totaling $1,424,322 to finance the project. The amount listed for this loan includes the proceeds used during the year and the outstanding loan balance from prior years. As of December 31, 2023 and 2022, the loan balance was $1,424,322 and $1,424,322, respectively.
Title: NOTE 4 - SUB-RECIPIENTS
Accounting Policies: The schedule of expenditures of federal awards presents the activity of federal award programs administered by Northwest Estates 811, which is described in the footnotes to the Organization’s accompanying financial statements, using the accrual basis of accounting. Federal awards that are included in the schedule may be received directly from federal agencies, as well as federal awards that are passed through from other government agencies. 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). Therefore, some amounts presented in this schedule may differ from the amounts presented in, or used in the preparation of, the basic financial statements. Because the schedule presents only a selected portion of the operations of Northwest Estates 811, it is not intended to and does not present the financial position, changes in net assets or cash flows of Northwest Estates 811.
De Minimis Rate Used: N
Rate Explanation: Northwest Estates 811 has not elected to use the 10% de minimis indirect cost rate.
No amounts were provided to subrecipients.