Title: Note 1 - Basis of presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following, as applicable, 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 Harry and Jeanette Weinberg Village I, Inc. has elected not to use the 10-percent de minimis
indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards ("Schedule") includes the federal
award activity of The Harry and Jeanette Weinberg Village I, Inc., HUD Project No.: 052-EE048,
under programs of the federal government for the year ended June 30, 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 Harry and Jeanette Weinberg Village, it is not intended to
and does not present the financial position, changes in net assets, or cash flows of The Harry and
Jeanette Weinberg Village I, Inc. For the year ended June 30, 2023, no awards were passed
through to subrecipients.
Title: Note 2 - 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, as applicable, 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 Harry and Jeanette Weinberg Village I, Inc. has elected not to use the 10-percent de minimis
indirect cost rate allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following, as applicable, the cost principles contained in the Uniform
Guidance, wherein certain types of expenditures are not allowable or are limited as to
reimbursement.
Title: Note 3 - Indirect cost rate
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following, as applicable, 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 Harry and Jeanette Weinberg Village I, Inc. has elected not to use the 10-percent de minimis
indirect cost rate allowed under the Uniform Guidance.
The Harry and Jeanette Weinberg Village I, Inc. has elected not to use the 10-percent de minimis
indirect cost rate allowed under the Uniform Guidance.
Title: Note 4 - U.S. Department of Housing and Urban Development capital advance program
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following, as applicable, 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 Harry and Jeanette Weinberg Village I, Inc. has elected not to use the 10-percent de minimis
indirect cost rate allowed under the Uniform Guidance.
The Organization entered into a capital advance agreement with HUD to assist in financing the
Organization under Section 202 of the National Housing Act in the amount of $6,201,000. The
capital advance is secured by a mortgage on the property. The entire amount of the capital advance
is included in federal expenditures presented in the Schedule. The Organization received no
additional advances during the year.