Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Leroy K. Jordan Plaza Apartments and is presented on the accrual basis of accounting. 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 Leroy K. Jordan Plaza Apartments, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Leroy K. Jordan Plaza Apartments.
De Minimis Rate Used: N
Rate Explanation: 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. Leroy K. Jordan Plaza Apartments has elected not to use the 10 per cent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Leroy K. Jordan Plaza Apartments and is presented on the accrual basis of accounting. 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 Leroy K. Jordan Plaza Apartments, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Leroy K. Jordan Plaza Apartments.
Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Leroy K. Jordan Plaza Apartments and is presented on the accrual basis of accounting. 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 Leroy K. Jordan Plaza Apartments, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Leroy K. Jordan Plaza Apartments.
De Minimis Rate Used: N
Rate Explanation: 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. Leroy K. Jordan Plaza Apartments has elected not to use the 10 per cent de minimis indirect cost rate as 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. Leroy K. Jordan Plaza Apartments has elected not to use the 10 per cent de minimis indirect cost rate as allowed under the Uniform Guidance.