Title: Note 1 - Basis of presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, 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: HCHA Cypresswood Estates, LLC has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards ("Schedule") includes the federal award activity of HCHA Cypresswood Estates, LLC, HUD Project No. 114-11474, under programs of the federal government for the year ended March 31, 2025. 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 HCHA Cypresswood Estates, LLC, it is not intended to and does not present the net position, changes in net position, or cash flows of HCHA Cypresswood Estates, LLC. For the year ended March 31, 2025, no awards were passed through to subrecipients.
Title: Note 2 - Summary of significant accounting policies
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, 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: HCHA Cypresswood Estates, LLC has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Note 3 - Indirect cost rate
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, 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: HCHA Cypresswood Estates, LLC has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
HCHA Cypresswood Estates, LLC has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Note 4 - 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, as applicable, 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: HCHA Cypresswood Estates, LLC has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
HCHA Cypresswood Estates, LLC has received a U.S. Department of Housing and Urban Development direct loan under Section 223(f) of the National Housing Act. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. HCHA Cypresswood Estates, LLC received no additional loans during the year. The balance of the loan outstanding at March 31, 2025 consists of: See the Notes to the SEFA for chart/table