Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the Federal assistance activity of JPNDC and Affiliates 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
JPNDC and Affiliates' consolidated financial statements include the operations of certain limited partnerships and limited liability corporations, the Federal programs of which are not included in the accompanying Schedule of Expenditures of Federal Awards for the year ended December 31, 2022, since for-profit companies are not subject to the Uniform Guidance.
JPNDC and Affiliates’ consolidated financial statements include the operations of Nate Smith Housing Corporation and Bickford Street Elderly Housing Corporation, which expended $4,309,692 and $7,632,011, respectively, in Federal awards which are not included in the Schedule of Expenditures of Federal Awards for the year ended December 31, 2022. Nate Smith Housing Corporation and Bickford Street Elderly Housing Corporation engaged other auditors to perform an audit of compliance.
De Minimis Rate Used: N
Rate Explanation: JPNDC and Affiliates has elected not to use the 10% de minimis cost rate for its Federal programs.