Notes to SEFA
Accounting Policies: (1)Basis of PresentationThe accompanying schedule of expenditures of federal awards includes the federal award activity of Bnai Brith Elmwood House, Inc. Project Nos. 035-EE008 and 035-EE043 under programs of the federal government for the year ended June 30, 2022. 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 Bnai Brith Elmwood House, Inc. Project Nos. 035-EE008 and 035-EE043, it is not intended to and does not present the financial statements, changes in net assets, or cash flows of Bnai Brith Elmwood House, Inc. Project Nos. 035-EE008 and 035-EE043.(2)Summary of Significant Accounting PoliciesExpenditures 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. (3)Federally Funded and HUD Capital AdvancesThe HUD Capital Advances at the beginning of the year are included in the federal expenditures presented in the schedule. The balance of the HUD Capital Advance at June 30, 2022 is $7,602,500.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.