Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the Federal assistance activity of the Organization 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.
The Organization's combining financial statements include the operations of Court Street Veterans Housing, LLC and Court Street Veterans Housing Managers, Inc. (see Note 1), which are not included in the accompanying Schedule of Expenditures of Federal Awards for the year ended June 30, 2024, since the component units are not subject to the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10% de minimis cost rate for its Federal programs.