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: The Organization has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (“SEFA”) includes the federal award activity of
the Organization under programs of the federal government for the year ended June 30, 2024. The
information in the SEFA is presented in accordance with the requirements of the Uniform Guidance. Because
the SEFA presents only a selected portion of the operations of the Organization, it is not intended to and does
not present the financial position, changes in net assets, or cash flows of the Organization.
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.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10% de minimis 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.
Title: Indirect Cost Rate
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: The Organization has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Organization has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform
Guidance.
Title: Capital Advance
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: The Organization has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Supportive Housing for Persons with Disabilities (Section 811) – Capital Advance represents an
unrecorded contingent liability in the Organization’s financial statements as the Organization expects the
possibility of repayment to be remote.