Notes to SEFA
Title: Basis for 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 OMB Circular A-122 Cost Principles for Non-Profit Organizations where certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Stone Lake Woods, Inc. has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Stone Lake Woods, Inc. under programs of the federal government for the year ended December 31, 2022. 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 Stone Lake Woods, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Stone Lake Woods, Inc.
Title: Loans or Loan Guarantees
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 OMB Circular A-122 Cost Principles for Non-Profit Organizations where certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Stone Lake Woods, Inc. has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
CFDA number 14.155 has a loan balance of $ 1,092,930 at December 31, 2022 from a Section 223(f) Federal Housing Administration Insured Loan.
Title: Subrecipients
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 OMB Circular A-122 Cost Principles for Non-Profit Organizations where certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Stone Lake Woods, Inc. has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
No amounts were provided to subrecipients.