Title: Note 1 -
Accounting Policies: Basis of Presentation - The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Fourth Street Housing Development Company, Inc., Project No. 14-HH010-CA/NY06-Q901-006, and is presented on the accrual basis of accounting. The information in the 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 Fourth Street Housing Development Company, Inc., Project No. 014-HH010-CA/NY06-Q901-006, it is not intended to and does not present the financial position, changes in operations, or cash flows of Fourth Street Housing Development Company, Inc., Project No. 014-HH010-CA/NY06-Q901-006. Summary of Significant Accounting Policies - Expenditures reported on the Schedule of Expenditures of Federal Awards 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. The Project has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Project has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Basis of Presentation - The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Fourth Street Housing Development Company, Inc., Project No. 14-HH010-CA/NY06-Q901-006, and is presented on the accrual basis of accounting. The information in the 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 Fourth Street Housing Development Company, Inc., Project No. 014-HH010-CA/NY06-Q901-006, it is not intended to and does not present the financial position, changes in operations, or cash flows of Fourth Street Housing Development Company, Inc., Project No. 014-HH010-CA/NY06-Q901-006. Summary of Significant Accounting Policies - Expenditures reported on the Schedule of Expenditures of Federal Awards 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. The Project has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Note 2 - Other Assistance
Accounting Policies: Basis of Presentation - The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Fourth Street Housing Development Company, Inc., Project No. 14-HH010-CA/NY06-Q901-006, and is presented on the accrual basis of accounting. The information in the 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 Fourth Street Housing Development Company, Inc., Project No. 014-HH010-CA/NY06-Q901-006, it is not intended to and does not present the financial position, changes in operations, or cash flows of Fourth Street Housing Development Company, Inc., Project No. 014-HH010-CA/NY06-Q901-006. Summary of Significant Accounting Policies - Expenditures reported on the Schedule of Expenditures of Federal Awards 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. The Project has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Project has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Fourth Street Housing Development Company, Inc., Project No. 14-HH010-CA/NY06-Q901-006 had a capital advance of $1,211,100 under the Section 811 Capital Advance Program at December 31, 2024. The capital advance is included in the schedule of expenditures of federal awards.