Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures for Section 8 Housing Assistance Payments Program 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.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. The Cooperative does not charge indirect costs to its Federal programs.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Charlame Park Homes I Cooperative Corporation (the Cooperative) 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 (CFR) Part 200, Uniform Administrative 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 Cooperative, it is not intended to and does not present the financial position, results of operations, or cash flows of the Cooperative.
Title: Subrecipients
Accounting Policies: Expenditures for Section 8 Housing Assistance Payments Program 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.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. The Cooperative does not charge indirect costs to its Federal programs.
There were no Federal awards passed through to subrecipients by the Cooperative during 2024.