Notes to SEFA
Title: Sub-recipients
Accounting Policies: The schedule of expenditures of federal awards presents the activity of federal award programs administered by Kawabe Memorial House, which is described in Note 2 to the Kawabe Memorial House’s accompanying combined financial statements, using the accrual basis of accounting. Federal awards that are included in the schedule may be received directly from federal agencies, as well as federal awards that are passed through from other government agencies. 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 (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from the amounts presented in, or used in the preparation of, the basic financial statements. Because the schedule presents only a selected portion of the operations of Kawabe Memorial House, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Kawabe Memorial House.
De Minimis Rate Used: N
Rate Explanation: Kawabe Memorial House has not elected to use the 10% de minimis indirect cost rate.
No amounts were provided to sub-recipients
Title: HUD Loans
Accounting Policies: The schedule of expenditures of federal awards presents the activity of federal award programs administered by Kawabe Memorial House, which is described in Note 2 to the Kawabe Memorial House’s accompanying combined financial statements, using the accrual basis of accounting. Federal awards that are included in the schedule may be received directly from federal agencies, as well as federal awards that are passed through from other government agencies. 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 (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from the amounts presented in, or used in the preparation of, the basic financial statements. Because the schedule presents only a selected portion of the operations of Kawabe Memorial House, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Kawabe Memorial House.
De Minimis Rate Used: N
Rate Explanation: Kawabe Memorial House has not elected to use the 10% de minimis indirect cost rate.
Kawabe Memorial House has received a U.S. Department of Housing and Urban Development direct loan under Section 223(f) totaling $6,260,000 to refinance the mortgage on the building. The amount listed for this loan includes the proceeds used during the year and the outstanding loan balance from prior years. As of December 31, 2023, the loan balance was $5,301,114.