Notes to SEFA
Title: Basis of Presentation
Accounting Policies: 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.
De Minimis Rate Used: N
Rate Explanation: River Shoals of Baldwin, Inc. did not elect to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of River Shoals of Baldwin, Inc. under programs of the federal government for the year ended December 31, 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 the River Shoals of Baldwin, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of River Shoals of Baldwin, Inc.
Title: Loan Proceeds
Accounting Policies: 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.
De Minimis Rate Used: N
Rate Explanation: River Shoals of Baldwin, Inc. did not elect to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The Organization has a Capital Advance under Section 811 of the National Housing Act through the U.S. Department of Housing and Urban Development. There were no additional loans received during the year. The outstanding balance of the Capital Advance at December 31, 2024 was $1,224,100.
Title: Subrecipients
Accounting Policies: 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.
De Minimis Rate Used: N
Rate Explanation: River Shoals of Baldwin, Inc. did not elect to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
There were no awards passed through to subrecipients.