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 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: Y
Rate Explanation: The Entity has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The Entity is reimbursed for programmatic and administrative costs in accordance with rules set forth by the U.S. Department of Housing and Urban Development.
The schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Union Township Adult Community Development Corporation T/A Ehrhart Gardens (the “Entity”) for the year ended December 31, 2023. 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 the Entity, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Entity.
Title: U.S. Department of Housing and Urban Development Section 8 Program
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are 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: Y
Rate Explanation: The Entity has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The Entity is reimbursed for programmatic and administrative costs in accordance with rules set forth by the U.S. Department of Housing and Urban Development.
The Entity has received U.S. Department of Housing and Urban Development Housing Assistance Payments (“HAP”) under Section 8 Housing Program. The payments received during the year are included in the federal expenditures presented in the Schedule.