Notes to SEFA
Title: Note A - Basisof Presentation
Accounting Policies: Note B - Summary of significant 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. Catherine Booth Residence, Inc., a Florida Corporation has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards includes the federal award activity of Catherine Booth Residence, Inc., a Florida Corporation, HUD Project No.: 067-EE054-WAH, under programs of the federal government for the year ended September 30, 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 operations of Catherine Booth Residence, Inc., a Florida Corporation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Catherine Booth Residence, Inc., a Florida Corporation. For the year ended September 30, 2024, no awards were passed through to subrecipients.
Title: Note C- U.S. Department of Housing and Urban Development capital advance program
Accounting Policies: Note B - Summary of significant 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. Catherine Booth Residence, Inc., a Florida Corporation has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Catherine Booth Residence, Inc., a Florida Corporation has received a U.S. Department of Housing and Urban Development capital grant under Section 202 of the National Housing Act. The capital grant balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. Catherine Booth Residence, Inc., a Florida Corporation received no additional grants during the year. The balance of the capital grant outstanding at September 30, 2024 consists of: See the Notes to the SEFA for chart/table