Notes to SEFA
Title: NeighborWorks® America Funds
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the Federal assistance activity of Urban Edge and Affiliates and is presented on the accrual basis of accounting. The information in this schedule is presented in accordancewith 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.
Urban Edge and Affiliates' consolidating financial statements include the operations of certain limited partnerships and limited liability companies (LLCs), the Federal programs of which are not included in the accompanying Schedule of Expenditures of Federal Awards for the year ended December 31, 2024, since the limited partnerships and LLCs are not subject to the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Urban Edge and Affiliates have elected not to use the 10% de minimis cost rate for its Federal programs.
NeighborWorks® America (NW) requires all sub-recipients to use AL No. 99.U01 for certain NW funds.
Title: Loans Outstanding
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the Federal assistance activity of Urban Edge and Affiliates and is presented on the accrual basis of accounting. The information in this schedule is presented in accordancewith 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.
Urban Edge and Affiliates' consolidating financial statements include the operations of certain limited partnerships and limited liability companies (LLCs), the Federal programs of which are not included in the accompanying Schedule of Expenditures of Federal Awards for the year ended December 31, 2024, since the limited partnerships and LLCs are not subject to the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Urban Edge and Affiliates have elected not to use the 10% de minimis cost rate for its Federal programs.
The indicated item represents an outstanding loan balance at December 31, 2024.