Notes to SEFA
The schedule of expenditures of federal awards includes grant and loan activity of the Fairhaven Homes 202 and is presented on the accrual basis of accounting. However, loans received in the prior year and still outstanding are to be considered federal expenditures for the purpose of this schedule. 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 ).