Notes to SEFA
Title: 1
Accounting Policies: Refer to Tab Form
De Minimis Rate Used: N
Rate Explanation: 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. The Corporation has elected not to use the
10-percent de minims indirect cost rate allowed under the Uniform Guidance
Basis of Presentation: The accompanying schedule of expenditures of federal awards includes the federal expenditures
activity of Paradise Haven Homes, Ltd. FHA Project No. 071-EH537, and is presented on the accrual basis of accounting.
The information in this schedule is presented in accordance with 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.
Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the
basic financial statements.
Title: 2
Accounting Policies: Refer to Tab Form
De Minimis Rate Used: N
Rate Explanation: 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. The Corporation has elected not to use the
10-percent de minims indirect cost rate allowed under the Uniform Guidance
Summary of Significant 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. The Corporation has elected not to use the
10-percent de minims indirect cost rate allowed under the Uniform Guidance.
Title: 3
Accounting Policies: Refer to Tab Form
De Minimis Rate Used: N
Rate Explanation: 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. The Corporation has elected not to use the
10-percent de minims indirect cost rate allowed under the Uniform Guidance
Other Federal Assistance: During the year ended July 31, 2024, the Organization did not receive any other Federal
assistance such as noncash
assistance, insurance, loan or loan guarantees.
Title: 4
Accounting Policies: Refer to Tab Form
De Minimis Rate Used: N
Rate Explanation: 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. The Corporation has elected not to use the
10-percent de minims indirect cost rate allowed under the Uniform Guidance
There were no subreceipients.
Title: 5
Accounting Policies: Refer to Tab Form
De Minimis Rate Used: N
Rate Explanation: 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. The Corporation has elected not to use the
10-percent de minims indirect cost rate allowed under the Uniform Guidance
No other single audits were performed during the year.