Notes to SEFA
Y
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.
Grayson Hale Estates has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The outstanding balance of the loan and loan guarantee programs at December 31, 2024, with continuing compliance requirements which are reported as federal expenditures on the accompanying Schedule of Expenditures of Federal Awards was $896,424.