Title: Basis of presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following, as applicable, 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: Brookdale Village Housing Corporation has elected not to use the 10-percent de minimis indirect
cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards ("Schedule") includes the federal
award activity of Brookdale Village Housing Corporation, HUD Project No. 012-119-NI, under
programs of the federal government for the year ended June 30, 2024. 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 Brookdale Village Housing Corporation, it is not intended to
and does not present the financial position, changes in net assets, or cash flows of Brookdale
Village Housing Corporation. For the year ended June 30, 2024, no awards were passed through to
subrecipients.
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, as applicable, 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: Brookdale Village Housing Corporation has elected not to use the 10-percent 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, as applicable, 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, as applicable, 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: Brookdale Village Housing Corporation has elected not to use the 10-percent de minimis indirect
cost rate allowed under the Uniform Guidance.
Brookdale Village Housing Corporation has elected not to use the 10-percent de minimis indirect
cost rate allowed under the Uniform Guidance.
Title: U.S. Department of Housing and Urban Development loan program
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following, as applicable, 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: Brookdale Village Housing Corporation has elected not to use the 10-percent de minimis indirect
cost rate allowed under the Uniform Guidance.
Brookdale Village Housing Corporation has received a U.S. Department of Housing and Urban
Development mortgage insurance loan under Section 223(f) of the National Housing Act. The loan
balance outstanding at the beginning of the year is included in the federal expenditures presented
in the Schedule. Brookdale Village Housing Corporation received no additional loans during the
year. The balance of the loan outstanding at June 30, 2024 consists of:
Assistance Listing number Program name Outstanding balance
at June 30, 2024
Mortgage Insurance for the Purchase or Refinancing of Existing Multi-family
14.155 Rental Housing: Sections 207/223(f) $ 6,155,083