Title: Basis of Accounting and Presentations
Accounting Policies: This summary of significant accounting policies is presented to assist in understanding the Organization’s schedule of expenditures of federal awards (“the Schedule”). The Schedule and notes are representations of the Organization’s management, who is responsible for their integrity and objectivity.
Basis of Accounting and Presentation – The Schedule is prepared using the accrual basis of accounting.
Sub-Recipients – There were no sub-recipients of the federal awards received by the Organization for the year ended March 31, 2025.
Indirect Costs – The Organization does not currently have a negotiated indirect cost reimbursement rate approved by a Federal Cognizant Agency; therefore, the Organization has elected to use the de minimis rate of 10% of modified total direct costs as an indirect cost allocation factor, as allowed under 2 CFR §200.414.
De Minimis Rate Used: Y
Rate Explanation: Ysleta Senior Housing, Inc. does not currently have a negotiated costs reimbursement rate approved by a Federal Cognizant Agency, therefore, the Organization has elected to use the de minimis rate of 10% of modified total direct costs as an indirect cost allocation factor, as allowed under 2 CFR §200.414.
The Schedule of Expenditures of Federal Awards is prepared using the accrual basis of accounting.
Title: Sub-recipients
Accounting Policies: This summary of significant accounting policies is presented to assist in understanding the Organization’s schedule of expenditures of federal awards (“the Schedule”). The Schedule and notes are representations of the Organization’s management, who is responsible for their integrity and objectivity.
Basis of Accounting and Presentation – The Schedule is prepared using the accrual basis of accounting.
Sub-Recipients – There were no sub-recipients of the federal awards received by the Organization for the year ended March 31, 2025.
Indirect Costs – The Organization does not currently have a negotiated indirect cost reimbursement rate approved by a Federal Cognizant Agency; therefore, the Organization has elected to use the de minimis rate of 10% of modified total direct costs as an indirect cost allocation factor, as allowed under 2 CFR §200.414.
De Minimis Rate Used: Y
Rate Explanation: Ysleta Senior Housing, Inc. does not currently have a negotiated costs reimbursement rate approved by a Federal Cognizant Agency, therefore, the Organization has elected to use the de minimis rate of 10% of modified total direct costs as an indirect cost allocation factor, as allowed under 2 CFR §200.414.
There were no sub-recipients of the Federal Awards received by Ysleta Senior Housing, Inc. for the year ended March 31, 2025.
Title: Indirect Cosrs
Accounting Policies: This summary of significant accounting policies is presented to assist in understanding the Organization’s schedule of expenditures of federal awards (“the Schedule”). The Schedule and notes are representations of the Organization’s management, who is responsible for their integrity and objectivity.
Basis of Accounting and Presentation – The Schedule is prepared using the accrual basis of accounting.
Sub-Recipients – There were no sub-recipients of the federal awards received by the Organization for the year ended March 31, 2025.
Indirect Costs – The Organization does not currently have a negotiated indirect cost reimbursement rate approved by a Federal Cognizant Agency; therefore, the Organization has elected to use the de minimis rate of 10% of modified total direct costs as an indirect cost allocation factor, as allowed under 2 CFR §200.414.
De Minimis Rate Used: Y
Rate Explanation: Ysleta Senior Housing, Inc. does not currently have a negotiated costs reimbursement rate approved by a Federal Cognizant Agency, therefore, the Organization has elected to use the de minimis rate of 10% of modified total direct costs as an indirect cost allocation factor, as allowed under 2 CFR §200.414.
Ysleta Senior Housing, Inc. does not currently have a negotiated costs reimbursement rate approved by a Federal Cognizant Agency, therefore, the Organization has elected to use the de minimis rate of 10% of modified total direct costs as an indirect cost allocation factor, as allowed under 2 CFR §200.414.
Title: Loans with Continuing Compliance Requirements
Accounting Policies: This summary of significant accounting policies is presented to assist in understanding the Organization’s schedule of expenditures of federal awards (“the Schedule”). The Schedule and notes are representations of the Organization’s management, who is responsible for their integrity and objectivity.
Basis of Accounting and Presentation – The Schedule is prepared using the accrual basis of accounting.
Sub-Recipients – There were no sub-recipients of the federal awards received by the Organization for the year ended March 31, 2025.
Indirect Costs – The Organization does not currently have a negotiated indirect cost reimbursement rate approved by a Federal Cognizant Agency; therefore, the Organization has elected to use the de minimis rate of 10% of modified total direct costs as an indirect cost allocation factor, as allowed under 2 CFR §200.414.
De Minimis Rate Used: Y
Rate Explanation: Ysleta Senior Housing, Inc. does not currently have a negotiated costs reimbursement rate approved by a Federal Cognizant Agency, therefore, the Organization has elected to use the de minimis rate of 10% of modified total direct costs as an indirect cost allocation factor, as allowed under 2 CFR §200.414.
The Organization entered into an agreement with the United States Departmens of Housing and Urban Development ("HUD") in January of 1993 for the construction of an apartment complex for very low-income families and elderly persons. The construction of apartments was funded by HUD with a capital advance subject to continuing compliance requirements. The outstanding balance of the capital advance as of March 31, 2025 is as follows: Program title: Supportive Housing for the Elderly. Assistance Listing Number: 14.157. Amount Outstanding: $1,966,800.