Notes to SEFA
Title: RELATIONSHIP TO FINANCIAL STATEMENTS
Accounting Policies: The Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Entity has not elected to use the de minimis indirect cost rate of up to 15% per Title 2 U.S. Code of Federal Regulations Part 200.
The information in this schedule is presented in accordance with the requirements of Title 2, U.S. Code of Federal Regulations (CFR) Part 200:516. Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in, the preparation of the financial statements
Title: CAPITAL ADVANCE BALANCE
Accounting Policies: The Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Entity has not elected to use the de minimis indirect cost rate of up to 15% per Title 2 U.S. Code of Federal Regulations Part 200.
Federal Expenditures for Program 14.157 include the $2,647,000 capital advance balance at the beginning of the audit period, and project rental assistance of $160,121. The capital advance balance at December 31, 2024 was also $2,647,000.