Title: Basis of Presentation
Accounting Policies: Summary of Significant 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.
De Minimis Rate Used: N
Rate Explanation: Indirect Cost
Woodside Haven, Inc., HUD Project No. 075-EE105-WAH, has not elected to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant activity of Woodside Haven, Inc. HUD Project No. 075-EE105-WAH, under programs of the federal government for the year ended June 30, 2024. The information in the Schedule is presented in accordance with the requirements of the 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 Woodside Haven, Inc., HUD Project No. 075-EE105-WAH, it is not intended to and does not present the financial posistion, changes in net assets, or cash flows of Woodside Haven, Inc., HUD Project No. 075-EE105-WAH.
Title: U.S. Department of Housing and Urban Development Section 202 Supportive Housing for the Elderly
Accounting Policies: Summary of Significant 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.
De Minimis Rate Used: N
Rate Explanation: Indirect Cost
Woodside Haven, Inc., HUD Project No. 075-EE105-WAH, has not elected to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
Woodside Haven, Inc., HUD Project No. 075-EE105-WAH, received a capital advance from the U.S. Department of Housing and Urban Development under Section 202 of the National Housing Act that has been accounted for as a contribution and is reported in net assets with donor restrictions in Woodside Haven, Inc.’s financial statements. The capital advance balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. Woodside Haven, Inc. received no additional capital advances during the year. The balance of the capital advance outstanding at June 30, 2024, is $1,853,000.
Title: Subrecipients
Accounting Policies: Summary of Significant 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.
De Minimis Rate Used: N
Rate Explanation: Indirect Cost
Woodside Haven, Inc., HUD Project No. 075-EE105-WAH, has not elected to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
Woodside Haven, Inc., HUD Project No. 075-EE105-WAH, does not have subrecipients of federal awards.