Notes to SEFA
Title: NOTE A - 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. Manor House Cooperative, Inc. has
elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: N/A
The accompanying schedule of expenditures of federal awards includes the federal award activity of Manor
House Cooperative, Inc. 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 Manor
House Cooperative, Inc., it is not intended to and does not present the financial position, changes in net
assets, or cash flows of Manor House Cooperative, Inc.
Title: NOTE B – 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 cost principles contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Manor House Cooperative, Inc. has
elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: N/A
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. Manor House Cooperative, Inc. has
elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: NOTE C – U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT LOAN PROGRAM
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. Manor House Cooperative, Inc. has
elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: N/A
Manor House Cooperative, Inc. has received a U.S. Department of Housing and Urban Development
insured loan under 223(f) of the National Housing Act. The loan balance outstanding at the beginning of
the year is included in the federal expenditures presented in the Schedule. Manor House Cooperative, Inc.
received no additional loans during the year. The balance of the loan outstanding at December 31, 2024
consists of: