Notes to SEFA
Title: LOAN OUTSTANDING
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the principles contained in the OMB Circular A-122 and Uniform Guidance.
The Organization did not elect to use the 10 percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Organization did not elect to use the 10 percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
Loan outstanding. At December 31, 2023, The Gamelin - Oregon Association had the following loan balance outstanding.
Program or Cluster Title: Mortgage Insurance Rental Housing for the Elderly; Assistance Listing Number: 14.138; Amount Outstanding: $ 1,852,673
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 principles contained in the OMB Circular A-122 and Uniform Guidance.
The Organization did not elect to use the 10 percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Organization did not elect 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 The Gamelin - Oregon Association (the Organization) under programs of 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 operation of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.