Notes to SEFA
Title: Restricted Grants
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the Federal assistance activity of the Organization and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. The Organization’s basic consolidated financial statements include the operations of the Rental Properties and other for-profit entities (collectively, the For-profit entities) (see Note 3), which are not included in the accompanying Schedule of Expenditures of Federal Awards for the year ended December 31, 2023, since the For-profit entities are not subject to the Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected to use the 10% de minimis cost rate for its Federal program.
The Supportive Housing for the Elderly Program's expenditure noted above represents restricted (time) grant balance of $6,204,100 at December 31, 2023.