Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule)
includes the federal award activity of River Heights Apartments, Inc. under programs of the federal government for the year ended November 30, 2023. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Codeof 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 River HeightsApartments, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of River Heights Apartments, Inc.
De Minimis Rate Used: Y
Rate Explanation: (1) 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 limited as to reimbursement.
(2) River Heights Apartments, Inc. has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.