The accompanying schedule of expenditures of federal awards includes the federal grant activity of B’nai B’rith Apartments of Deerfield Beach II, Inc., HUD Project No. 066‐EH266, and is presented on the accrual basis of accounting. 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). Because the Schedule presents only a selected portion of the operations of B’nai B’rith Apartments of Deerfield Beach II, Inc., HUD Project No. 066‐EH266, is not intended to, and does not, present the financial position, changes in net assets, or cash flows of B’nai B’rith Apartments of Deerfield Beach II, Inc. HUD Project No. 066‐EH266.
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’nai B’rith Apartments of Deerfield Beach II, Inc. has elected not to use the 10 percent de minimus indirect cost rate allowed under the Uniform Guidance. There are no subrecipients for this federal award.
B’nai B’rith Apartments of Deerfield Beach II, Inc., HUD Project No. 066‐EH266, has received a U.S. Department of Housing and Urban Development direct loan under Section 202 of the National Housing Act. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. B’nai B’rith Apartments of Deerfield Beach II, Inc., HUD Project No. 066‐EH266, received no additional loans during the year. The balance of the loan outstanding at December 31, 2024 consisted of:
Amounts received or receivable by grantor or agencies are subject to audit and adjustments by those agencies, principally the U.S. Department of Housing and Urban Development. Any disallowed claims, including amounts already received, might constitute a liability of B’nai B’rith Apartments of Deerfield Beach II, Inc., HUD Project No. 066‐EH266, for the return of those funds. In the opinion of management, all grant expenditures were in compliance with the terms of the grant agreements and applicable federal and state laws and regulations.