Notes to SEFA
Title: NOTE 3 – PRIOR YEARS’ EXPENDITURES
Accounting Policies: Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards and OMB Circular A-122, Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowed. Assistance Listing numbers (“AL No.”) are provided when available.
De Minimis Rate Used: N
Rate Explanation: Mid-Peninsula Colma Ridge, Inc. elected not to use the 10% de minimis indirect cost rate.
The accompanying Schedule includes $2,760,735 in expenditures from prior years for which continuing
compliance is required.
Title: NOTE 4 – OUTSTANDING LOAN BALANCES
Accounting Policies: Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards and OMB Circular A-122, Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowed. Assistance Listing numbers (“AL No.”) are provided when available.
De Minimis Rate Used: N
Rate Explanation: Mid-Peninsula Colma Ridge, Inc. elected not to use the 10% de minimis indirect cost rate.
The following represents the amount of outstanding loans identified by AL No. All loans are provided by HUD
and are included in the Schedule.
Prior year
loans with
Loans continuing Total
AL received compliance outstanding
No. Program title in 2024 requirements loans
14.181 Supportive Housing for Persons
With Disabilities (Section 811) $ - $ 1,983,400 $ 1,983,400
14.218 Community Development Block
Grants/Entitlement Grants $ - $ 642,761 $ 642,761