Notes to SEFA
Title: #1
Accounting Policies: See Form
De Minimis Rate Used: N
Rate Explanation: Cost rate used by Auditee is based on contracts.
Expenditures reporting on this 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 remibursement.
Title: #2
Accounting Policies: See Form
De Minimis Rate Used: N
Rate Explanation: Cost rate used by Auditee is based on contracts.
The 10 per-cent deminimus indirect cost rate was not elected to be used during the year under audit.
Title: #3
Accounting Policies: See Form
De Minimis Rate Used: N
Rate Explanation: Cost rate used by Auditee is based on contracts.
The HUD mortgage loan of $15,488,879 represents the outstanding balance at January 1, 2023. The balance of the HUD mortgage loan at December 31, 2023 was $15,311,691
Title: #4
Accounting Policies: See Form
De Minimis Rate Used: N
Rate Explanation: Cost rate used by Auditee is based on contracts.
There were no subrecipients for this Organization.
Title: #5
Accounting Policies: See Form
De Minimis Rate Used: N
Rate Explanation: Cost rate used by Auditee is based on contracts.
There were no other Single Audit reports issued for the year under audit.
Title: #6
Accounting Policies: See Form
De Minimis Rate Used: N
Rate Explanation: Cost rate used by Auditee is based on contracts.
The rehabilitation recapturable grant represents the outstanding balance at January 1, 2023. The balance of the grant at December 31, 2023 was $2,647,821.
Title: #7
Accounting Policies: See Form
De Minimis Rate Used: N
Rate Explanation: Cost rate used by Auditee is based on contracts.
There was no non-cash awards for the year under audit.
Title: #8
Accounting Policies: See Form
De Minimis Rate Used: N
Rate Explanation: Cost rate used by Auditee is based on contracts.
Programs tested as major programs were ALN 14.134, 14.194, 14.195.