Notes to SEFA
Title: SUBRECIPIENTS
Accounting Policies: The information 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 (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The Company does not use the 10% de minimis cost rate.
No amounts were provided to subrecipients.
Title: MORTGAGE PAYABLE
Accounting Policies: The information 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 (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The Company does not use the 10% de minimis cost rate.
The amount reported for Assistance Listing No. 14.157 in expenditures relate to U.S. Department of Housing and Urban Development Supportive Housing for the Elderly (Section 202) loan. The ending balance of the loan is $878,854 at June 30, 2024.