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 OMB Circular A-122, "Cost Principles for Non-Profit Organizations" or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursment.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10% de minimuss indirect cost rate allowed under Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of
Johnnie B. Moore Towers, Inc. under programs of the federal government for the year ended December 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 Johnnie B.
Moore Towers, Inc II., it is not intended to and does not present the financial position, changes in net assets or cash
flows of Johnnie B. Moore Towers II, Inc.
Title: Summary of Significany 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 OMB Circular A-122, "Cost Principles for Non-Profit Organizations" or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursment.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10% de minimuss indirect cost rate 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 OMB Circular A-122, "Cost Principles for Non-Profit Organizations" or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursment.
Title: Indirect Cost Rate
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 OMB Circular A-122, "Cost Principles for Non-Profit Organizations" or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursment.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10% de minimuss indirect cost rate allowed under Uniform Guidance.
Johnnie B. Moore Towers II, Inc. has elected not to use the 10% de minimus indirect cost rate allowed under Uniform Guidance
Title: Section 202 Capital Advance
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 OMB Circular A-122, "Cost Principles for Non-Profit Organizations" or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursment.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10% de minimuss indirect cost rate allowed under Uniform Guidance.
Johnnie B. Moore Towers II, Inc.'s has received a direct loan under the Section202 Capital Advance program. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. The balance of the loans outstanding as of December 31, 2023, is $4,780,100.