Notes to SEFA
Title: NOTE A - Basis of presentation
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. Fiddler's Manor, Inc. has elected not to use
the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Fiddler's Manor, Inc. has elected not to use
the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal award activity of Fiddler's
Manor, Inc., HUD Project No. 086-EE031, and is presented on the accrual basis of accounting. 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 Fiddler's
Manor, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash
flows of Fiddler's Manor, Inc.
Title: NOTE B - Summary of significant accounting policies
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. Fiddler's Manor, Inc. has elected not to use
the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Fiddler's Manor, Inc. has elected not to use
the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
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. Fiddler's Manor, Inc. has elected not to use
the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: NOTE C - U.S. Department of Housing and Urban Development Loan Program
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. Fiddler's Manor, Inc. has elected not to use
the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Fiddler's Manor, Inc. has elected not to use
the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Fiddler's Manor, Inc. has received a U.S. Department of Housing and Urban Development capital advance
under Section 202 of the National Housing Act. The balance is included in the federal expenditures presented
in the Schedule. Fiddler's Manor, Inc. received no additional funds during the year.