Title: 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. B’nai B’rith Apartments of Deerfield
Beach III, Inc. has elected not to use the 10 percent de minimus indirect cost rate allowed under the
Uniform Guidance. There are no subrecipients for this federal award.
De Minimis Rate Used: N
Rate Explanation: B’nai B’rith Apartments of Deerfield
Beach III, Inc. has elected not to use the 10 percent de minimus indirect cost rate allowed under the
Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of B’nai
B’rith Apartments of Deerfield Beach III, Inc., HUD Project No. 066‐EE102, 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 (Uniform Guidance). Because the Schedule
presents only a selected portion of the operations of B’nai B’rith Apartments of Deerfield Beach III, Inc.,
HUD Project No. 066‐EE102, is not intended to, and does not, present the financial position, changes in
net assets, or cash flows of B’nai B’rith Apartments of Deerfield Beach III, Inc. HUD Project No. 066‐EE102.
Title: 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. B’nai B’rith Apartments of Deerfield
Beach III, Inc. has elected not to use the 10 percent de minimus indirect cost rate allowed under the
Uniform Guidance. There are no subrecipients for this federal award.
De Minimis Rate Used: N
Rate Explanation: B’nai B’rith Apartments of Deerfield
Beach III, Inc. has elected not to use the 10 percent de minimus 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. B’nai B’rith Apartments of Deerfield
Beach III, Inc. has elected not to use the 10 percent de minimus indirect cost rate allowed under the
Uniform Guidance. There are no subrecipients for this federal award.
Title: 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. B’nai B’rith Apartments of Deerfield
Beach III, Inc. has elected not to use the 10 percent de minimus indirect cost rate allowed under the
Uniform Guidance. There are no subrecipients for this federal award.
De Minimis Rate Used: N
Rate Explanation: B’nai B’rith Apartments of Deerfield
Beach III, Inc. has elected not to use the 10 percent de minimus indirect cost rate allowed under the
Uniform Guidance.
B’nai B’rith Apartments of Deerfield Beach III, Inc., HUD Project No. 066‐EE102, has received a U.S.
Department of Housing and Urban Development direct loan under Section 202 of the National Housing
Act. The loan balance outstanding at the beginning of the year is included in the federal expenditures
presented in the Schedule. B’nai B’rith Apartments of Deerfield Beach III, Inc., HUD Project No. 066‐EE102,
received no additional loans during the year. The balance of the loan outstanding at June 30, 2024
consisted of:
Title: Contingency
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. B’nai B’rith Apartments of Deerfield
Beach III, Inc. has elected not to use the 10 percent de minimus indirect cost rate allowed under the
Uniform Guidance. There are no subrecipients for this federal award.
De Minimis Rate Used: N
Rate Explanation: B’nai B’rith Apartments of Deerfield
Beach III, Inc. has elected not to use the 10 percent de minimus indirect cost rate allowed under the
Uniform Guidance.
Amounts received or receivable by grantor or agencies are subject to audit and adjustments by those
agencies, principally the U.S. Department of Housing and Urban Development. Any disallowed claims,
including amounts already received, might constitute a liability of B’nai B’rith Apartments of Deerfield
Beach III, Inc., HUD Project No. 066‐EE102, for the return of those funds. In the opinion of management,
all grant expenditures were in compliance with the terms of the grant agreements and applicable federal
and state laws and regulations.