Notes to SEFA
Title: BASIS OF ACCOUNTING
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Chicago Dwellings Association's Drexel Square Apartments and is presented on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Drexel Square has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Chicago Dwellings Association's Drexel Square Apartments, HUD Project Number 071-SH007, 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in, preparation of the basic financial statements.
Title: FEDERAL DE MINIMIS INDIRECT COST
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Chicago Dwellings Association's Drexel Square Apartments and is presented on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Drexel Square has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Drexel Square Apartments has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.