Notes to SEFA
Title: Note A-Basis of Presentation
Accounting Policies: ACCRUAL
De Minimis Rate Used: N
Rate Explanation: Casitas on East Broadway has elected not to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Casitas on East Broadway HUD Project No. 123-EE104, 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 (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Casitas on East Broadway, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Casitas on East Broadway.
Title: Note B-Summary of Significant Accounting Policies
Accounting Policies: ACCRUAL
De Minimis Rate Used: N
Rate Explanation: Casitas on East Broadway has elected not to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
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. Casitas on East Broadway has elected not to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
Title: Note C-U.S. Department of Housing and Urban Development Loan Program
Accounting Policies: ACCRUAL
De Minimis Rate Used: N
Rate Explanation: Casitas on East Broadway has elected not to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
Casitas on East Broadway has received a U.S. Department of Housing and Urban Development direct loan under Section 202 of the National Housing Act. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. Casitas on East Broadway received no additional loans during the year. The balance of the loan outstanding at December 31, 2023 14.157 Section 202 $6,172,900
14.239 HOME Program $ 924,570