Notes to SEFA
Title: CAPITAL ADVANCES
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the Senior Resource Development, Pueblo Agency, Inc. and Affiliates (the Organization), under programs of the federal government for the year ended December 31, 2022 in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administration Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization. Basis of Accounting: 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 allowed are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Total Department of Housing and Urban Development Section 202 Capital Advances totaled $5,953,300 through December 31, 2022. The Capital Advances are not included in the accompanying schedule of federal expenditures, however, in accordance with the OMB Guidance for CFDA #14.157 these amounts have been included in the major program determination for the Organization.