Notes to SEFA
Title: NOTE A - 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 reimbursement.
De Minimis Rate Used: N
Rate Explanation: NewRoadVillage,LLC 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 includes the federal awards (the "Schedule") includes the federal award activity of New Road Village, LLC, under programs of the federal government for the year ended December 31, 2023. 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 New Road Village, LLC, it is not intended to and does not present the financial position, changes in net assets, or cash flows of New Road Village, LLC.
Title: NOTE B - 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 reimbursement.
De Minimis Rate Used: N
Rate Explanation: NewRoadVillage,LLC 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 the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. New Road Village, LLC has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: NOTE C - LOANS OUTSTANDING
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 reimbursement.
De Minimis Rate Used: N
Rate Explanation: NewRoadVillage,LLC has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
New Road Village, LLC had the following loan balances outstanding as of December 31, 2023: Program Title: Rural Rental Housing Loans Assistance Listing Number: 10.415
$ 1,568,841
Program Title: Home Investment Partnerships Program
Assistance Listing Number: 14.239
$644,000