Notes to SEFA
Title: Basis of 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 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Edsil’s Place Apartments, Inc. has elected not to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Edsil’s Place Apartments, Inc. has elected not to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Edsil’s Place Apartments, Inc. under programs of the federal government for the year ended March 31, 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 Edsil’s Place Apartments, Inc., it is not intended to and does not present the financial position, changes in net assets or cash flows of Edsil’s Place Apartments, Inc.
Title: 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 the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Edsil’s Place Apartments, Inc. has elected not to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Edsil’s Place Apartments, Inc. has elected not to use the 10 percent de minimis indirect cost rate as 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. Edsil’s Place Apartments, Inc. has elected not to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.
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 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Edsil’s Place Apartments, Inc. has elected not to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Edsil’s Place Apartments, Inc. has elected not to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance
Edsil’s Place Apartments, Inc. provided no federal funding to subrecipients for the year ended March 31, 2023.