Notes to SEFA
Title: NOTE 1 BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. The recording and reporting of expenditures are consistent with the cost principles contained in the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Project has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying Schedule of expenditures of federal awards (the "Schedule") includes the federal grant activity of St. Thomas-St. John Services for the Developmentally Disabled, Inc.'s Yellow Cedar Residence (Yellow Cedar Residence), Project Number 056-EH-324, under programs of the federal government for the
year ended September 30, 2023. The information in this Schedule is presented in accordance with the requirements 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 Yellow Cedar Residence, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Yellow Cedar Residence.
Title: NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. The recording and reporting of expenditures are consistent with the cost principles contained in the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Project has not elected 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. The recording and reporting of expenditures are consistent with the cost principles contained in the Uniform Guidance. The Project has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: NOTE 3 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. The recording and reporting of expenditures are consistent with the cost principles contained in the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Project has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Yellow Cedar Residence received a U.S. Department of Housing and Urban Development loan and holds a residual receipt note under Section 202 of the National Housing Act. The loan and note balances outstanding at the beginning of the year are included in the federal expenditures presented in the Schedule. Yellow Cedar Residence received no additional loans during the year. As of September 30, 2022, note and loan balances are as follows: ALN 14.157 Program: Section 202 Direct Loan - Balance: $335,138; ALN #14.157 Program: Section 202 Loan - Residual Receipt Note Balance $370,926. Total $706,065.