Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditure reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditure are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The entity has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of DAL Housing for the Elderly, Project No. 042-11110 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 Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Organization.
Title: Loan Outstanding Balance
Accounting Policies: Expenditure reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditure are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The entity has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
\The outstanding loan balance for the Mortgage Program for the Insurance Rental Housing– Section 207– ALN #14.134 was $1,527,277 as of December 31, 2023