Notes to SEFA
Title: 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 the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Eden Park, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed by the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Eden Park, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed by the Uniform Guidance.
Eden Park, Inc. has received a U.S. Department of Housing and Urban Development capital advance under Section 202 of the National Housing Act. The capital advances at the beginning of the year are included in the federal expenditures presented in the schedule. Eden Park, Inc. received no additional capital advances during the year. The balance of the capital advances at September 30, 2022 consists of: $1,325,500.