Notes to SEFA
Accounting Policies: General
The above schedule of expenditures of federal awards includes the federal grant activity of the
Missouri Association of the Deaf Apartments Associates (Missouri Association of the Deaf
Apartments) HUD Project No. 085-11167 (the Organization).
Basis of Accounting
The accompanying schedule of expenditures of federal awards is presented using the same basis of
accounting as the financial statement. 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).
Therefore, some amounts presented in this schedule may differ from amounts presented in, or used
in the preparation of, the basic financial statements.
Mortgage
As of March 31, 2024, the outstanding loan balance was $1,460,763. The amount net of unamortized
debt issuance cost of $31,879, was $1,428,884.
De Minimis Rate Used: N
Rate Explanation: The Organization did not elect to use the 10% De Minimis cost rate.