Notes to SEFA
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.
De Minimis Rate Used: N
Rate Explanation: Steward Manor has elected not to use the 10 percent de minimis indirect cost rate as allowed under
the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal award activity of
Steward Manor 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 Steward Manor, it is not intended to and does not present the
financial position, changes in net assets, or cash flows of Steward Manor.
Title: U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT CAPITAL ADVANCE 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.
De Minimis Rate Used: N
Rate Explanation: Steward Manor has elected not to use the 10 percent de minimis indirect cost rate as allowed under
the Uniform Guidance.
Steward Manor has received a U.S. Department of Housing and Urban Development capital
advance under Section 202 of the National Housing Act. The balance outstanding at the beginning
of the year is included in the federal expenditures presented in the schedule. Steward Manor
received no additional advances during the year.