Notes to SEFA
Title: Note 1 - Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the OMB Circular A-122, Cost Principles for Nonprofit Organizations or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented were available.
De Minimis Rate Used: N
Rate Explanation: Green Manor has elected not to use the 10-percent de minimis indirect cost rate as allowed under Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Green Manor under programs of the federal government for the year ended September 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 Green Manor, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Green Manor.
Title: Note 2 - 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 OMB Circular A-122, Cost Principles for Nonprofit Organizations or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented were available.
De Minimis Rate Used: N
Rate Explanation: Green Manor has elected not to use the 10-percent de minimis indirect cost rate as allowed under Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the OMB Circular A-122, Cost Principles for Nonprofit Organizations or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented were available.
Title: Note 3 - Loan Program
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the OMB Circular A-122, Cost Principles for Nonprofit Organizations or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented were available.
De Minimis Rate Used: N
Rate Explanation: Green Manor has elected not to use the 10-percent de minimis indirect cost rate as allowed under Uniform Guidance.
The following is the activity of the loan payable for the year ended September 30, 2024: Assistance Listing Number 14.155, Program Name Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects, Loan Outstanding for the Year Ended September 30, 2023 $3,065,123, Loans Awarded for the Year Ended September 30, 2024 $-0-, Loan Principal Repaid for the Year Ended September 30, 2024 $76,516, Loan Outstanding September 30, 2024 $2,988,607.