Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: 1. Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal
award activity of Baton Rouge Village, Inc. under programs of the 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and
Audit Requirements for Federal Awards (Uniform Guidance). Since the Schedule presents only a
selected portion of the operations of the Organization, it is not intended to and does not present the
Organization's financial position, changes in net assets, or cash flows.
2. Summary of Significant Accounting Policies: (a) 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.
(b) The Woods at Crooked Creek Apartments, Inc. has elected not to use the 10 percent de minimis
indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate
(c) The outstanding balance of the HUD Capital Advance at December 31, 2024 with continuing compliance requirements which are reported as federal expenditures on the accompanying schedule of expenditures of federal awards was $3,155,200.