Notes to SEFA
Title: 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. The Organization has elected not to use the 10-percent de
minimis indirect cost rate allowed under the Uniform Guidance. Negative amounts shown on the Schedule, if any,
represent adjustments or credits made in the normal course of business to amounts reported as expenditures in
prior years. Pass-through entity identifying numbers are presented where available.
Expenses incurred under federal programs are subject to audit by the awarding agencies. If, as a result of such an
audit, certain expenses incurred are determined to be nonreimbursable, the Organization may be liable for
repayment of disallowed expenses previously claimed or received.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity
of Byrd Barr Place and Subsidiary (collectively, the Organization) 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 Audit Requirements 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: Summary of Significant Accounting Policies
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. The Organization has elected not to use the 10-percent de
minimis indirect cost rate allowed under the Uniform Guidance. Negative amounts shown on the Schedule, if any,
represent adjustments or credits made in the normal course of business to amounts reported as expenditures in
prior years. Pass-through entity identifying numbers are presented where available.
Expenses incurred under federal programs are subject to audit by the awarding agencies. If, as a result of such an
audit, certain expenses incurred are determined to be nonreimbursable, the Organization may be liable for
repayment of disallowed expenses previously claimed or received.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
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. The Organization has elected not to use the 10-percent de
minimis indirect cost rate allowed under the Uniform Guidance. Negative amounts shown on the Schedule, if any,
represent adjustments or credits made in the normal course of business to amounts reported as expenditures in
prior years. Pass-through entity identifying numbers are presented where available.
Expenses incurred under federal programs are subject to audit by the awarding agencies. If, as a result of such an
audit, certain expenses incurred are determined to be nonreimbursable, the Organization may be liable for
repayment of disallowed expenses previously claimed or received.