Notes to SEFA
Title: 1
Accounting Policies: The accrual basis of accounting is used for Expenditures of Federal Awards.
De Minimis Rate Used: N
Rate Explanation: Park Village Apartments elected not to use the 10% de minimis indirect cost rate.
The accompanying schedule of Federal Awards includes the Federal Award Activity of Park Village Apartments, 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 Requirements for Federal Awards.
Title: 2
Accounting Policies: The accrual basis of accounting is used for Expenditures of Federal Awards.
De Minimis Rate Used: N
Rate Explanation: Park Village Apartments elected not to use the 10% de minimis indirect cost rate.
$800,000 CDBG loan on June 18, 1996, due to the City of Stockton, 0% interest, due June 2026, continuing tenant eligibility requirements.