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.
De Minimis Rate Used: N
Rate Explanation: The Project has not elected to use the 10 percent de minimis indirect cost rate, and continues to use the cost allocation negotiated individually with its grantors, as applicable.
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal grant activity of Greenbriar Prime Management, LLC, HUD Project Number 113-22035 (the Project) and is presented on the accrual basis of accounting. 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. Because the Schedule presents only a selected portion of the operations of the Project, it is not intended to and does not present the financial position, changes in net deficit or cash flows of the Project. Changes in the mortgage balance for the year ended December 31, 2023 are as follows:
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.
De Minimis Rate Used: N
Rate Explanation: The Project has not elected to use the 10 percent de minimis indirect cost rate, and continues to use the cost allocation negotiated individually with its grantors, as applicable.
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 Project has not elected to use the 10 percent de minimis indirect cost rate, and continues to use the cost allocation negotiated individually with its grantors, as applicable.