Notes to SEFA
Title: Note A - Basis of Presentation
Accounting Policies: Note B - 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. The Salvation Army Residences, Inc., a Florida Corporation has elected not to use
the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards includes the federal award activity of The Salvation Army Residences, Inc., a Florida Corporation, HUD Project No.: 067-11269, under programs of the federal government for the year ended September 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"). For the year ended September 30, 2023, no awards were passed through to subrecipients.
Title: Note C - U.S. Department of Housing and Urban Development loan program
Accounting Policies: Note B - 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. The Salvation Army Residences, Inc., a Florida Corporation has elected not to use
the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Salvation Army Residences, Inc., a Florida Corporation has received a U.S. Department of Housing and Urban Development insured loan under Section 223(f) 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. The Corporation received no additional loans during the year. The balance of the loan outstanding at September 30, 2023 consists of: See the Notes to the SEFA for chart/table