Notes to SEFA
Title: Note A - 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 Uniform Guidance, wherein certain types of expenditures are not allowable or are
limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected not to use the 10% de minimis cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal award activity of Jaycee View Housing
Incorporated, HUD Project No. 042-EE044-WAH under programs of the federal government for the year ended May 31, 2025.
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, it is not intended to and does not present
the financial position, changes in net assets or cash flows of Jaycee View Housing Incorporated.
Title: Note D - Loan and Loan Guarantee Programs
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 Uniform Guidance, wherein certain types of expenditures are not allowable or are
limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected not to use the 10% de minimis cost rate allowed under the Uniform Guidance.
The outstanding balance of loan and loan guarantee programs at May 31, 2025 with continuing compliance requirements which
are reported as federal expenditures on the accompanying schedule of expenditures of federal awards was $1,063,500.