Notes to SEFA
Title: 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 OMB Circular A-122 and Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Organization did not elect to use the 10 percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal
award activity of Forest Ridge Non-Profit Housing (the Organization) under programs of 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 operation of the Organization,
it is not intended to and does not present the financial position, changes in net assets, or cash flows of
the Organization.
Title: SECTION 202 CAPITAL ADVANCE
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 OMB Circular A-122 and Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Organization did not elect to use the 10 percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
At December 31, 2024, Forest Ridge Non-Profit Housing had the following Section 202 capital advance
which is presented in net assets with donor restrictions. The capital advance is also included in the
federal expenditures presented. Program or Cluster Title: Supportive Housing for the Elderly (Section 202); Federal ALN: 14.157; Amount Oustanding $3,183,600.