Notes to SEFA
Title: SUBRECIPIENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Findley Place Apartments and is presented in accordance with accounting principles generally accepted in the United
States of America. 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, Costs Principles, and Audit
Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: For the year ended June 30, 2024, the Project did not recover indirect costs from federal awards. The 10% de minimis indirect cost rate was not used.
Federal funds are not passed through to any subrecipients.
Title: NONCASH ASSISTANCE AND FEDERAL INSURANCE
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Findley Place Apartments and is presented in accordance with accounting principles generally accepted in the United
States of America. 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, Costs Principles, and Audit
Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: For the year ended June 30, 2024, the Project did not recover indirect costs from federal awards. The 10% de minimis indirect cost rate was not used.
Findley Place Apartments did not receive any federal noncash assistance and had no federal insurance in effect during the year ended June 30, 2024.
Title: LOANS AND LOAN GUARANTEES
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Findley Place Apartments and is presented in accordance with accounting principles generally accepted in the United
States of America. 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, Costs Principles, and Audit
Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: For the year ended June 30, 2024, the Project did not recover indirect costs from federal awards. The 10% de minimis indirect cost rate was not used.
Findley Place Apartments had federal loans or federal loan agreements with a balance of $2,182,400 at June 30, 2024.