Notes to SEFA
Expenditures reporting on this 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 remibursement.
The Organization has elected the 10% de-minimis indirect cost rate.
There were no other audits performed under the Uniform Guidance for the year ended December 31, 2024.
There were no subrecipients for this Organization.
The HUD mortgage loan of $15,311,691 represents the outstanding balance at January 1, 2024; The HUD mortgage loan balance at December 31, 2024 was $15,126,823.
The Rehabilitation recapturbale grant represents the balance at January 1, 2024 and at December 31, 2024. The amount for both periods was $2,647,821.
There was no non-cash awards for the year under audit.
Programs tested as major programs were ALN 14.134, 14.194, 14.195.