Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of MSAA Housing for the Disabled, Inc. under programs of the federal government for the year ended June 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 MSAA Housing for the Disabled, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of MSAA Housing for the Disabled, Inc.
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.
MSAA Housing for the Disabled, Inc. elected not to use the 10% de minimis indirect cost rate as allowed the Uniform Guidance.
The balance of the section 202 supportive housing for the elderly capital advance at June 30, 2024 is $2,242,900.