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. Dogwood Manor Apartments, 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: Dogwood Manor Apartments, 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 Dogwood
Manor Apartments, Inc., HUD Project No. 087-EE073, 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
Dogwood Manor Apartments, Inc., it is not intended to and does not present the financial position, changes
in net assets, or cash flows of Dogwood Manor Apartments, 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. Dogwood Manor Apartments, 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: Dogwood Manor Apartments, 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. Dogwood Manor Apartments, 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. Dogwood Manor Apartments, 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: Dogwood Manor Apartments, Inc. has
elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Dogwood Manor Apartments, 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. Dogwood Manor Apartments, Inc. received no additional funds
during the year.