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. 2) Boehme Hinni Apartments has elected to not use the 10-
percent de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of
Boehme Hinni Apartments, Inc. HUD Project No. 085-HD054, 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 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 Boehme Hinni Apartments, Inc., it is not intended to and does not present
the financial position, changes in net assets, or cash flows of Boehme Hinni Apartments, Inc. Therefore, some
amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic
financial statements. The balance of the capital advances outstanding at the end of the audit period was the same
as the balance presented on the accompanying schedule of expenditures of federal awards.
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. 2) Boehme Hinni Apartments has elected to not use the 10-
percent de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Boehme Hinni Apartments, Inc. has received a U.S. Department of Housing and Urban Development direct loan
under Section 811 of the National Affordable Housing Act of 1990. The loan balance outstanding at the beginning
of the year is included in the federal expenditures presented in the Schedule. Boehme Hinni Apartments, Inc.
received no additional loans during the year. The balance of the loan outstanding at December 31, 2024 consists
of:
Outstanding Balance at
CFDA Number Program Name December 31, 2024
14.181 Section 811 Supportive Housing for Persons with Disabilities $ 1,454,800